46,319 Shares in SoFi Technologies, Inc. $SOFI Purchased by 111 Capital

Key Points

• 111 Capital acquired a new position in SoFi Technologies, purchasing 46,319 shares valued at approximately $843,000 during the 2nd quarter.
• SoFi Technologies' recent earnings report revealed $0.08 earnings per share, exceeding the consensus estimate of $0.06, with revenue of $519.37 million for the quarter.
• Institutional investors currently own 38.43% of SoFi Technologies' stock, indicating significant interest from major financial players.

111 Capital bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 46,319 shares of the company's stock, valued at approximately $843,000.

Several other hedge funds and other institutional investors have also modified their holdings of SOFI. Hazlett Burt & Watson Inc. boosted its holdings in shares of SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC bought a new stake in shares of SoFi Technologies during the 1st quarter worth about $28,000. SVB Wealth LLC bought a new stake in shares of SoFi Technologies during the 1st quarter worth about $28,000. Garde Capital Inc. bought a new stake in shares of SoFi Technologies during the 1st quarter worth about $31,000. Finally, Larson Financial Group LLC raised its stake in SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after purchasing an additional 1,519 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Down 2.8%

SOFI opened at $25.24 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $30.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 52.58, a PEG ratio of 3.00 and a beta of 1.92. The company's 50 day moving average price is $25.03 and its two-hundred day moving average price is $18.19.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. During the same period in the previous year, the firm posted $0.01 EPS. The company's revenue for the quarter 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, research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the sale, the chief technology officer directly owned 759,553 shares of the company's stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 10,036 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.86, for a total transaction of $279,602.96. Following the sale, the executive vice president directly owned 285,410 shares in the company, valued at $7,951,522.60. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,614 shares of company stock worth $3,452,672 over the last three months. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SOFI. Stephens began coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. JMP Securities reiterated a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their price objective on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Finally, Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.18.

SoFi Technologies 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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