GatePass Capital Cuts SoFi Stake by 18.3%; Insiders Offload $4.4M
GatePass Capital decreased its SoFi Technologies holdings by 18.3% to 100,045 shares in Q3, representing 1.5% of its portfolio and valued at $2.643M. Insider Arun Pinto sold 46,132 shares at $24.76 and CTO Jeremy Rishel sold 91,837 shares at $26.64, totaling $4.4M.
1. Institutional Ownership Shifts
GatePass Capital LLC reduced its stake in SoFi Technologies by 18.3% during the third quarter, selling 22,476 shares and ending the period with 100,045 shares. This position represented 1.5% of GatePass’s total holdings and ranked SoFi as its 14th largest position. The remaining shares were valued at approximately $2.64 million according to the latest SEC filing. Other institutional moves included Salomon & Ludwin LLC establishing a new position of roughly $29,000, SJS Investment Consulting increasing its SoFi stake by 840.3% to 1,119 shares, ORG Partners boosting holdings by 230.6% to 1,438 shares, Bartlett & CO. Wealth Management adding 46.9% more shares to reach 1,469, and Bfsg LLC tripling its stake to 1,500 shares. Overall, institutions now control 38.43% of SoFi’s outstanding shares.
2. Insider Selling Activity
During the most recent quarter, insiders disposed of 167,813 shares of SoFi stock, generating total proceeds of roughly $4.40 million. CEO Arun Pinto sold 46,132 shares, reducing his position by 25% and leaving him with 138,396 shares. CTO Jeremy Rishel offloaded 91,837 shares, a 10.36% reduction, and now holds 794,598 shares. In a separate transaction, EVP Kelli Keough sold 9,468 shares, trimming her stake by 2.94% to 312,948 shares. Corporate insiders collectively own 2.60% of the company’s shares.
3. Recent Financial Performance and Analyst Outlook
In the third quarter, SoFi reported revenue of $949.63 million, up 37.7% year-over-year, and delivered earnings of $0.11 per share, beating consensus by $0.02. The company achieved a net margin of 19.29% and a return on equity of 5.12%. SoFi’s guidance for full-year fiscal 2025 projects EPS of 0.37. Analysts currently hold an average rating of Hold, based on one Strong Buy, six Buy, thirteen Hold and three Sell recommendations. Consensus earnings estimates for the current year stand at $0.26 per share, while consensus target valuations range around $25.50.