Vanguard Group Inc. Acquires 820,190 Shares of SoFi Technologies, Inc. $SOFI
Vanguard Group Inc. increased its stake in SoFi Technologies by 0.8% in Q2, acquiring 820,190 additional shares, totaling 100,287,485 shares valued at $1.83 billion. This represents 9.07% ownership of SoFi. Other institutional investors also adjusted their holdings. SoFi's stock opened at $25.19 with a market cap of $30.38 billion. Recent earnings beat estimates with $0.11 EPS and $949.63 million revenue. Insider sales were reported, and analysts have set new price targets for the stock.
Vanguard Group Inc. raised its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,287,485 shares of the company's stock after acquiring an additional 820,190 shares during the quarter. Vanguard Group Inc. owned about 9.07% of SoFi Technologies worth $1,826,235,000 at the end of the most recent quarter.
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Other hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter valued at $47,616,000. Mizuho Markets Cayman LP acquired a new position in SoFi Technologies during the second quarter worth $45,525,000. ARK Investment Management LLC raised its holdings in SoFi Technologies by 118.5% during the second quarter. ARK Investment Management LLC now owns 4,424,155 shares of the company's stock valued at $80,564,000 after buying an additional 2,399,746 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of SoFi Technologies by 58.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company's stock worth $50,467,000 after buying an additional 1,598,721 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of SoFi Technologies by 3,703.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,337,048 shares of the company's stock worth $24,348,000 after acquiring an additional 1,301,899 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.
SoFi Technologies Trading Up 1.1%
Shares of SOFI stock opened at $25.19 on Friday. The firm has a market capitalization of $30.38 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.93. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $32.73. The firm's fifty day simple moving average is $28.12 and its 200 day simple moving average is $22.23. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31.
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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The firm's revenue for the quarter was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
Insider Buying and Selling at SoFi Technologies
In related news, insider Arun Pinto sold 46,132 shares of the company's stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the transaction, the insider directly owned 138,396 shares in the company, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 10,340 shares of SoFi Technologies stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the sale, the executive vice president owned 265,034 shares in the company, valued at $7,004,848.62. This represents a 3.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 175,277 shares of company stock valued at $4,694,595 in the last quarter. Corporate insiders own 2.60% of the company's stock.
Analysts Set New Price Targets
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A number of brokerages recently weighed in on SOFI. Citigroup raised their price objective on SoFi Technologies from $28.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, October 29th. Morgan Stanley increased their price target on SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Barclays boosted their price objective on shares of SoFi Technologies from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 29th. Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of SoFi Technologies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.06.
Check Out Our Latest Report on SoFi Technologies
SoFi Technologies Company Profile
(Free Report)SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.
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