Free Trial

Spire Wealth Management Has $455,000 Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

SoFi Technologies logo with Business Services background

Spire Wealth Management cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 59.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,787 shares of the company's stock after selling 102,945 shares during the period. Spire Wealth Management's holdings in SoFi Technologies were worth $455,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. bought a new position in SoFi Technologies during the 2nd quarter worth approximately $93,000. Commonwealth Equity Services LLC boosted its holdings in SoFi Technologies by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 618,955 shares of the company's stock worth $4,091,000 after purchasing an additional 10,379 shares during the period. Baltimore Washington Financial Advisors Inc. increased its stake in SoFi Technologies by 10.0% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 504,963 shares of the company's stock valued at $3,338,000 after purchasing an additional 45,865 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of SoFi Technologies by 32.7% during the second quarter. Concurrent Investment Advisors LLC now owns 89,416 shares of the company's stock worth $591,000 after purchasing an additional 22,011 shares during the period. Finally, Forum Financial Management LP lifted its position in shares of SoFi Technologies by 45.4% in the 2nd quarter. Forum Financial Management LP now owns 35,717 shares of the company's stock worth $236,000 after buying an additional 11,145 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 24,939 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the company's stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares of the company's stock, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders have sold a total of 19,921,285 shares of company stock valued at $135,057,462 over the last three months. Company insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded down $0.46 during trading on Tuesday, reaching $7.53. The company had a trading volume of 43,267,622 shares, compared to its average volume of 46,127,258. The firm's fifty day moving average is $7.07 and its 200 day moving average is $7.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The firm has a market capitalization of $7.96 billion, a PE ratio of -24.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.70. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $10.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SOFI shares. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their price objective on SoFi Technologies from $7.50 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, July 9th. Finally, BTIG Research began coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a "neutral" rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.14.

Read Our Latest Stock Report on SOFI

SoFi Technologies Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

Should You Invest $1,000 in SoFi Technologies Right Now?

Before you consider SoFi Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SoFi Technologies wasn't on the list.

While SoFi Technologies currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 Best Stocks to Own in 2025 Cover

Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2025 and why they should be in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Quantum Computing Stocks to Watch in 2025 (That Aren’t Rigetti)
Transportation Stocks to Watch in 2025: Top Picks for Growth
Crypto Boom 2025: Bitcoin’s Rise and Trump’s Impact on the Market

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines