SoFi Technologies, Inc. $SOFI Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,647,053 shares of the company’s stock after selling 37,369 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in SoFi Technologies were worth $88,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in SoFi Technologies during the 2nd quarter valued at about $1,298,925,000. Bank of America Corp DE purchased a new position in shares of SoFi Technologies during the 2nd quarter worth $163,808,000. Dimensional Fund Advisors LP increased its stake in shares of SoFi Technologies by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock worth $144,539,000 after purchasing an additional 359,785 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in SoFi Technologies in the 2nd quarter worth $93,937,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SoFi Technologies by 4.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,925,068 shares of the company’s stock valued at $88,306,000 after purchasing an additional 198,336 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

SOFI opened at $16.60 on Tuesday. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 0.99 and a beta of 2.33. The company has a fifty day moving average of $16.53 and a 200 day moving average of $17.84. SoFi Technologies, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $32.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.25 billion. SoFi Technologies had a net margin of 15.60% and a return on equity of 6.89%. SoFi Technologies’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of SoFi Technologies stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the sale, the chief technology officer directly owned 912,650 shares in the company, valued at $15,971,375. This trade represents a 2.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 50,316 shares of company stock valued at $852,605. Company insiders own 2.50% of the company’s stock.

Key SoFi Technologies News

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: SoFi shares rose as falling oil prices reduced inflation and interest-rate concerns, helping lift financial stocks broadly. SoFi Stock Rises as Oil Prices Calm Inflation Fears
• Positive Sentiment: Recent coverage highlighted a record addition of 1.2 million members in the latest quarter, reinforcing the company’s continued growth despite the stock’s decline for the year. SoFi Added a Record 1.2 Million Members Last Quarter
• Positive Sentiment: SoFi’s third-quarter results exceeded expectations, with approximately $1.34 billion in revenue and $241 million in net income. Management also forecast fourth-quarter revenue near $1.375 billion, representing roughly 36% year-over-year growth. How Earnings Beat At SoFi Stock Has Changed Its Investment Story
• Positive Sentiment: Analysts and investors are focusing on the company’s upgraded outlook, expanding financial-services business, higher-margin fee revenue, and potential profitability gains. One forecast calls for $6.4 billion in adjusted revenue and $0.90 EPS in fiscal 2027. SoFi Technologies: On The Brink Of A Major Profitability Breakout
• Positive Sentiment: New initiatives—including SoFiUSD blockchain settlement through Mastercard and tokenized deposits—could broaden the platform and diversify revenue beyond personal lending. SoFi Just Made a Big Move Into Blockchain Payments

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Bank of America reiterated an “underperform” rating and set a $16.50 price objective on shares of SoFi Technologies in a research note on Wednesday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $24.00 target price on shares of SoFi Technologies in a report on Wednesday, October 28th. Piper Sandler started coverage on shares of SoFi Technologies in a research note on Monday, August 17th. They set an “overweight” rating and a $22.00 target price on the stock. Finally, Scotiabank reaffirmed a “sector outperform” rating and set a $26.00 price target (up from $25.00) on shares of SoFi Technologies in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.23.

SoFi Technologies Profile

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.