Matisse Capital Decreases Position in SoFi Technologies, Inc. $SOFI

Matisse Capital trimmed its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 81.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,890 shares of the company’s stock after selling 61,420 shares during the period. Matisse Capital’s holdings in SoFi Technologies were worth $367,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. boosted its stake in SoFi Technologies by 840.3% during the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter worth about $29,000. ORG Partners LLC boosted its stake in shares of SoFi Technologies by 230.6% during the 3rd quarter. ORG Partners LLC now owns 1,438 shares of the company’s stock worth $38,000 after purchasing an additional 1,003 shares during the period. Bartlett & CO. Wealth Management LLC grew its holdings in SoFi Technologies by 46.9% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company’s stock valued at $39,000 after purchasing an additional 469 shares during the last quarter. Finally, Bfsg LLC raised its position in SoFi Technologies by 200.0% in the 3rd quarter. Bfsg LLC now owns 1,500 shares of the company’s stock worth $40,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $26.13 on Tuesday. The firm has a market cap of $31.51 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.63 and a beta of 1.92. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.73. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $27.42 and its 200 day moving average is $26.05.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. During the same quarter last year, the firm earned $0.05 EPS. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 target price on shares of SoFi Technologies in a research note on Tuesday, October 28th. Truist Financial reduced their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, November 25th. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group reduced their price target on shares of SoFi Technologies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $25.50.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,340 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $26.43, for a total value of $273,286.20. Following the completion of the transaction, the executive vice president directly owned 265,034 shares in the company, valued at approximately $7,004,848.62. The trade was a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 91,837 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the completion of the transaction, the chief technology officer directly owned 794,598 shares in the company, valued at approximately $21,168,090.72. The trade was a 10.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 157,777 shares of company stock worth $4,119,014 over the last quarter. Insiders own 2.60% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.