Voya Investment Management LLC Reduces Position in SoFi Technologies, Inc. $SOFI

Voya Investment Management LLC decreased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 41.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,905 shares of the company’s stock after selling 67,931 shares during the quarter. Voya Investment Management LLC’s holdings in SoFi Technologies were worth $2,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SOFI. Edmond DE Rothschild Holding S.A. purchased a new position in SoFi Technologies during the 1st quarter valued at $39,000. TD Private Client Wealth LLC increased its stake in SoFi Technologies by 153.9% in the second quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company’s stock worth $47,000 after purchasing an additional 1,553 shares during the period. Hilltop National Bank lifted its position in shares of SoFi Technologies by 888.0% during the third quarter. Hilltop National Bank now owns 1,976 shares of the company’s stock worth $52,000 after purchasing an additional 1,776 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of SoFi Technologies by 151.4% during the third quarter. Grove Bank & Trust now owns 2,004 shares of the company’s stock valued at $53,000 after purchasing an additional 1,207 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of SoFi Technologies in the second quarter worth about $61,000. 38.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Mizuho set a $38.00 price objective on shares of SoFi Technologies in a research report on Thursday, October 30th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, UBS Group upped their target price on SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.69.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,468 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $27.14, for a total value of $256,961.52. Following the completion of the transaction, the executive vice president directly owned 312,948 shares in the company, valued at approximately $8,493,408.72. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 91,837 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the completion of the transaction, the chief technology officer directly owned 794,598 shares in the company, valued at approximately $21,168,090.72. The trade was a 10.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 167,813 shares of company stock worth $4,403,334 in the last three months. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $27.07 on Friday. The firm has a market cap of $32.64 billion, a price-to-earnings ratio of 50.13 and a beta of 1.93. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.73. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $28.19 and its 200 day moving average is $24.76.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.SoFi Technologies’s revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

About SoFi Technologies

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.