29,484 Shares in SoFi Technologies, Inc. $SOFI Purchased by R Squared Ltd

Key Points

• R Squared Ltd acquired 29,484 shares of SoFi Technologies, valued at approximately $537,000, marking a new stake for the firm in the second quarter.
• Insider trading activity revealed that CTO Jeremy Rishel sold 98,733 shares, reducing his position by 11.50%, while other executives also sold shares during the same period.
• SoFi Technologies has a market cap of $33.62 billion and reported earnings of $0.08 per share for the last quarter, exceeding expectations.

R Squared Ltd purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 29,484 shares of the company's stock, valued at approximately $537,000.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares in the last quarter. Sullivan Wood Capital Management LLC acquired a new position in SoFi Technologies in the second quarter worth approximately $2,799,000. Blair William & Co. IL increased its holdings in shares of SoFi Technologies by 443.9% in the second quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock valued at $6,113,000 after buying an additional 273,972 shares in the last quarter. CMG Global Holdings LLC lifted its position in shares of SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after acquiring an additional 61,443 shares during the last quarter. Finally, Nicholas Wealth LLC. bought a new stake in shares of SoFi Technologies during the 1st quarter worth $993,000. Institutional investors own 38.43% of the company's stock.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the sale, the executive vice president directly owned 234,622 shares of the company's stock, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,383 shares of company stock worth $3,513,171. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Rothschild & Co Redburn started coverage on SoFi Technologies in a research report on Friday, August 1st. They set a "neutral" rating and a $20.50 target price on the stock. Keefe, Bruyette & Woods lifted their price target on SoFi Technologies from $14.00 to $18.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 15th. Barclays upped their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $20.71.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $28.08 on Friday. The firm has a market cap of $33.62 billion, a price-to-earnings ratio of 58.50, a P/E/G ratio of 3.23 and a beta of 1.92. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $30.30. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $26.52 and a 200 day simple moving average of $19.65.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The company had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. During the same period in the prior year, the firm posted $0.01 EPS. The business's revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal 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.

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