Sequoia Financial Advisors LLC Cuts Stock Position in SoFi Technologies, Inc. $SOFI

Sequoia Financial Advisors LLC lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 28.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,177 shares of the company’s stock after selling 4,367 shares during the period. Sequoia Financial Advisors LLC’s holdings in SoFi Technologies were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pegasus Asset Management Inc. grew its stake in shares of SoFi Technologies by 4.5% in the 2nd quarter. Pegasus Asset Management Inc. now owns 129,451 shares of the company’s stock worth $2,357,000 after buying an additional 5,564 shares during the last quarter. MGO One Seven LLC grew its stake in shares of SoFi Technologies by 12.0% in the 2nd quarter. MGO One Seven LLC now owns 18,316 shares of the company’s stock worth $334,000 after buying an additional 1,958 shares during the last quarter. CWM LLC grew its stake in shares of SoFi Technologies by 6.0% in the 2nd quarter. CWM LLC now owns 87,333 shares of the company’s stock worth $1,590,000 after buying an additional 4,934 shares during the last quarter. Means Investment CO. Inc. grew its stake in shares of SoFi Technologies by 12.0% in the 2nd quarter. Means Investment CO. Inc. now owns 54,138 shares of the company’s stock worth $986,000 after buying an additional 5,800 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of SoFi Technologies by 30.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 86,306 shares of the company’s stock worth $1,572,000 after buying an additional 20,057 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,578 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares of the company’s stock, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,383 shares of company stock worth $3,513,171. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SOFI. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. TD Cowen began coverage on SoFi Technologies in a research note on Friday, July 11th. They set a “hold” rating and a $21.00 target price on the stock. Truist Financial set a $23.00 target price on SoFi Technologies in a research note on Monday, August 4th. Rothschild & Co Redburn began coverage on SoFi Technologies in a research note on Friday, August 1st. They set a “neutral” rating and a $20.50 target price on the stock. Finally, Citizens Jmp downgraded SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.71.

SoFi Technologies Stock Performance

SOFI stock opened at $28.08 on Friday. The company has a market cap of $33.62 billion, a P/E ratio of 58.50, a price-to-earnings-growth ratio of 3.23 and a beta of 1.92. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $30.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The stock’s fifty day moving average price is $26.52 and its 200-day moving average price is $19.65.

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