Alliancebernstein L.P. Buys 426,829 Shares of SoFi Technologies, Inc. $SOFI

Alliancebernstein L.P. boosted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 33.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,713,527 shares of the company's stock after buying an additional 426,829 shares during the period. Alliancebernstein L.P. owned 0.16% of SoFi Technologies worth $19,928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Federation des caisses Desjardins du Quebec lifted its holdings in SoFi Technologies by 10.0% in the first quarter. Federation des caisses Desjardins du Quebec now owns 319,187 shares of the company's stock worth $3,712,000 after buying an additional 29,030 shares during the period. Focus Partners Advisor Solutions LLC lifted its holdings in SoFi Technologies by 17.8% in the first quarter. Focus Partners Advisor Solutions LLC now owns 24,225 shares of the company's stock worth $282,000 after buying an additional 3,667 shares during the period. Quarry LP lifted its holdings in SoFi Technologies by 372.4% in the first quarter. Quarry LP now owns 14,626 shares of the company's stock worth $170,000 after buying an additional 11,530 shares during the period. Calton & Associates Inc. lifted its holdings in SoFi Technologies by 26.6% in the first quarter. Calton & Associates Inc. now owns 22,601 shares of the company's stock worth $263,000 after buying an additional 4,751 shares during the period. Finally, Vident Advisory LLC lifted its holdings in SoFi Technologies by 95.9% in the first quarter. Vident Advisory LLC now owns 25,191 shares of the company's stock worth $293,000 after buying an additional 12,332 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of SOFI opened at $25.52 on Thursday. The company has a market capitalization of $30.56 billion, a P/E ratio of 53.17, a price-to-earnings-growth ratio of 3.08 and a beta of 1.93. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $22.74 and a 200 day moving average of $16.44. SoFi Technologies, Inc. has a twelve month low of $6.95 and a twelve month high of $26.86.

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

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the sale, the executive vice president directly owned 234,622 shares of the company's stock, valued at $5,192,184.86. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,959 shares of company stock valued at $1,653,646 in the last three months. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on SOFI. Barclays raised their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They set a "neutral" rating and a $20.50 target price for the company. Stephens initiated coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Finally, TD Cowen initiated coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $19.59.

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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