Bosun Asset Management LLC Trims Stock Position in SoFi Technologies, Inc. $SOFI

Bosun Asset Management LLC decreased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,725 shares of the company’s stock after selling 9,193 shares during the quarter. Bosun Asset Management LLC’s holdings in SoFi Technologies were worth $1,195,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new position in shares of SoFi Technologies during the first quarter worth approximately $28,000. SVB Wealth LLC purchased a new position in shares of SoFi Technologies during the first quarter worth approximately $28,000. Garde Capital Inc. acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $31,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies in the 4th quarter valued at $32,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays raised their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Truist Financial set a $23.00 price target on SoFi Technologies in a report on Monday, August 4th. Keefe, Bruyette & Woods upped their price objective on SoFi Technologies from $13.00 to $14.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group assumed coverage on SoFi Technologies in a research report on Monday, July 14th. They set a “neutral” rating and a $19.00 price objective for the company. Finally, Needham & Company LLC lifted their target price on SoFi Technologies from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.35.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the sale, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 66,847 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares of the company’s stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,099 shares of company stock worth $2,907,591. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 1.7%

Shares of NASDAQ SOFI opened at $24.49 on Thursday. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of 51.02, a price-to-earnings-growth ratio of 3.02 and a beta of 1.93. SoFi Technologies, Inc. has a 52 week low of $6.75 and a 52 week high of $26.60. The firm has a 50-day moving average price of $21.93 and a 200 day moving average price of $16.10. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $519.37 million during the quarter, compared to analysts’ expectations of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period last year, the company posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.