SoFi Technologies, Inc. $SOFI Stock: Brighton Jones LLC Reduces Stake

Brighton Jones LLC trimmed its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 22.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 485,437 shares of the company’s stock after selling 138,540 shares during the period. Brighton Jones LLC’s holdings in SoFi Technologies were worth $7,631,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Ethic Inc. boosted its stake in shares of SoFi Technologies by 49.2% during the 3rd quarter. Ethic Inc. now owns 15,683 shares of the company’s stock worth $247,000 after acquiring an additional 5,173 shares in the last quarter. StoneX Group Inc. raised its position in shares of SoFi Technologies by 14.7% during the third quarter. StoneX Group Inc. now owns 27,630 shares of the company’s stock worth $446,000 after purchasing an additional 3,549 shares during the period. Pegasus Asset Management Inc. raised its position in shares of SoFi Technologies by 2.6% during the third quarter. Pegasus Asset Management Inc. now owns 235,296 shares of the company’s stock worth $3,699,000 after purchasing an additional 6,013 shares during the period. Parallel Advisors LLC raised its position in shares of SoFi Technologies by 12.3% during the third quarter. Parallel Advisors LLC now owns 15,768 shares of the company’s stock worth $248,000 after purchasing an additional 1,723 shares during the period. Finally, Asset One Wealth Management LLC lifted its holdings in shares of SoFi Technologies by 211.1% during the third quarter. Asset One Wealth Management LLC now owns 54,322 shares of the company’s stock valued at $854,000 after purchasing an additional 36,860 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SOFI shares. UBS Group increased their price target on SoFi Technologies from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Benchmark restated a “sector outperform” rating on shares of SoFi Technologies in a report on Wednesday, October 28th. Piper Sandler initiated coverage on SoFi Technologies in a report on Monday, August 17th. They set an “overweight” rating and a $22.00 price objective on the stock. Monness Crespi & Hardt assumed coverage on shares of SoFi Technologies in a report on Monday, October 26th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $21.27.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 18,624 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the transaction, the chief technology officer owned 912,650 shares of the company’s stock, valued at $15,971,375. The trade was a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the sale, the executive vice president owned 356,442 shares of the company’s stock, valued at $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 50,316 shares of company stock worth $852,605 in the last quarter. Insiders own 2.50% of the company’s stock.

Key Headlines Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Analyst sentiment has improved: SoFi received a Zacks Rank #2 (Buy), and reports cited an analyst upgrade and potential upside of about 29% based on average price targets. Positive earnings-estimate revisions may also support the outlook. Zacks rating upgrade Analyst price targets
• Positive Sentiment: SoFi’s adjusted net revenue grew 44% in its latest reported quarter, and management raised its full-year guidance. These fundamentals offer support even though the stock has surrendered its post-earnings gains and remains well below its peak. SoFi growth and guidance
• Negative Sentiment: A crypto-led sell-off has weighed on retail-focused fintech shares, including SoFi, as Bitcoin fell and investors retreated from the sector. This broader market pressure may offset company-specific optimism in the near term. Fintech sell-off
• Negative Sentiment: One recent analysis warned that SoFi’s valuation remains steep, a potential risk if growth or earnings expectations disappoint. Valuation analysis

SoFi Technologies Stock Performance

SOFI stock opened at $16.21 on Friday. The firm has a 50 day moving average of $16.35 and a two-hundred day moving average of $17.65. SoFi Technologies, Inc. has a 12 month low of $13.86 and a 12 month high of $32.73. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 1.01 and a beta of 2.25. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. SoFi Technologies had a return on equity of 6.89% and a net margin of 15.60%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 44.4% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings.

Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.

SoFi primarily serves consumers in the United States.