SG Americas Securities LLC Raises Stock Position in SoFi Technologies, Inc. $SOFI

SG Americas Securities LLC increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 273.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 345,002 shares of the company’s stock after acquiring an additional 252,586 shares during the period. SG Americas Securities LLC’s holdings in SoFi Technologies were worth $9,115,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 0.8% during the second quarter. Vanguard Group Inc. now owns 100,287,485 shares of the company’s stock worth $1,826,235,000 after purchasing an additional 820,190 shares in the last quarter. Norges Bank purchased a new position in SoFi Technologies during the 2nd quarter worth $164,068,000. Marshall Wace LLP increased its position in SoFi Technologies by 88.2% during the 2nd quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after buying an additional 3,748,817 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in SoFi Technologies by 2.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,628,309 shares of the company’s stock valued at $120,702,000 after buying an additional 155,583 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in SoFi Technologies in the second quarter valued at about $115,188,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 1.2%

Shares of SoFi Technologies stock opened at $27.40 on Friday. The stock has a market cap of $33.04 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 1.74 and a beta of 1.92. The firm has a fifty day moving average price of $27.76 and a 200 day moving average price of $25.54. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $32.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16.

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

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total value of $273,286.20. Following the sale, the executive vice president owned 265,034 shares in the company, valued at approximately $7,004,848.62. This represents a 3.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the sale, the insider directly owned 138,396 shares in the company, valued at $3,426,684.96. The trade was a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 167,813 shares of company stock worth $4,403,334. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SOFI. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Barclays upped their price target on shares of SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday. Bank of America started coverage on shares of SoFi Technologies in a research note on Tuesday. They set an “underperform” rating and a $20.50 price objective for the company. The Goldman Sachs Group cut their target price on SoFi Technologies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Truist Financial reduced their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.50.

SoFi Technologies Profile

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.