1,411,233 Shares in SoFi Technologies, Inc. $SOFI Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP acquired 1,411,233 shares of SoFi (NASDAQ:SOFI) in Q2 — roughly $25.7 million — making it Quantbot's ninth-largest position and equal to about 0.13% ownership of SoFi.
• Norges Bank purchased a new stake in Q2 valued at approximately $164.1 million, and institutional/hedge fund ownership now totals about 38.43% of the company.
• Insiders have been net sellers (175,277 shares sold in the last 90 days) even as SoFi recently beat EPS and revenue estimates; analysts' consensus remains a "Hold" with an average target of $24.88.

Quantbot Technologies LP acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,411,233 shares of the company's stock, valued at approximately $25,699,000. SoFi Technologies makes up 0.7% of Quantbot Technologies LP's holdings, making the stock its 9th largest position. Quantbot Technologies LP owned 0.13% of SoFi Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of SoFi Technologies during the second quarter worth approximately $892,000. Shelton Capital Management purchased a new position in SoFi Technologies in the 2nd quarter valued at $1,165,000. Lido Advisors LLC acquired a new stake in SoFi Technologies during the 2nd quarter worth $203,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of SoFi Technologies by 276.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 6,570 shares of the company's stock worth $120,000 after buying an additional 4,827 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of SoFi Technologies during the second quarter worth $164,068,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,340 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $26.43, for a total transaction of $273,286.20. Following the completion of the transaction, the executive vice president owned 265,034 shares of the company's stock, valued at approximately $7,004,848.62. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Arun Pinto sold 46,132 shares of the business's stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the sale, the insider directly owned 138,396 shares in the company, valued at approximately $3,426,684.96. The trade was a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 175,277 shares of company stock valued at $4,694,595 over the last 90 days. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on SOFI. JPMorgan Chase & Co. boosted their price target on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Friday, October 24th. Keefe, Bruyette & Woods raised their target price on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 29th. Citigroup upped their price target on SoFi Technologies from $28.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, October 29th. Truist Financial reduced their price objective on SoFi Technologies from $31.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, November 25th. Finally, Needham & Company LLC boosted their price objective on SoFi Technologies from $29.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $24.88.

SoFi Technologies Trading Down 2.3%

SOFI opened at $29.03 on Tuesday. The stock has a market capitalization of $35.01 billion, a PE ratio of 53.76, a P/E/G ratio of 2.90 and a beta of 1.93. SoFi Technologies, Inc. has a one year low of $8.60 and a one year high of $32.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The business's 50 day moving average price is $28.16 and its 200 day moving average price is $22.99.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

SoFi Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.