Commonwealth Cuts SoFi Stake by 11.9% as Insiders Sell $1.42M in Shares
Commonwealth Equity Services reduced its SoFi stake by 11.9% in Q3, selling 64,278 shares to leave 477,880 shares worth $12.63M. Insiders Arun Pinto and EVP Kelli Keough sold 46,132 and 10,340 shares at average prices of $24.76 and $26.43, totaling $1.42M in transactions.
1. Institutional Stake Reduction by Commonwealth Equity Services
Commonwealth Equity Services LLC trimmed its position in SoFi Technologies by selling 64,278 shares during the third quarter, representing an 11.9% reduction. Following the sale, the firm held 477,880 shares valued at approximately 12.63 million dollars as of the latest 13F filing. This divestiture marks one of the larger institutional adjustments for SoFi in the period and may signal shifting confidence levels among major asset managers.
2. Shifts in Hedge Fund and Wealth Manager Allocations
Several smaller investment firms also altered their SoFi holdings in the third quarter. SJS Investment Consulting increased its stake by 840.3%, adding 1,000 shares to reach 1,119 shares. Bartlett & CO. Wealth Management grew its position by 46.9%, adding 469 shares for a total of 1,469 shares. Hilltop National Bank expanded its exposure by 888.0%, purchasing an additional 1,776 shares to hold 1,976 shares, while Grove Bank & Trust lifted its allocation by 151.4%, adding 1,207 shares to own 2,004 shares. Collectively, these moves underscore diverse views on SoFi’s growth trajectory among boutique managers.
3. Insider Sales Activity and Ownership Impact
During late November, CFO Arun Pinto sold 46,132 shares for gross proceeds of roughly 1.14 million dollars, reducing his holding by 25% to 138,396 shares. EVP Kelli Keough also divested 10,340 shares for about 273,000 dollars, trimming her stake by 3.75% to 265,034 shares. Over the past ninety days, total insider sales amounted to 167,813 shares worth 4.40 million dollars, leaving insiders with 2.60% ownership. Such transactions may reflect executives’ portfolio diversification but could raise questions about insider sentiment.
4. Third-Quarter Earnings and Key Metrics
SoFi reported third-quarter revenue of 949.6 million dollars, a 37.7% increase year-over-year, and delivered earnings per share of 0.11, beating consensus by 0.02. The company’s net margin stood at 19.29%, and return on equity was 5.12%. Guidance for fiscal 2025 projects EPS of 0.37. These results highlight robust top-line growth driven by expanded lending and banking services, though investors will watch margin trends and the cost of scaling operations in digital finance offerings.