Bayforest Capital Ltd Acquires New Stake in SoFi Technologies, Inc. $SOFI

Key Points

• Bayforest Capital Ltd has acquired a new stake in SoFi Technologies, Inc., purchasing 42,130 shares valued at approximately $490,000 in the first quarter.
• Institutional investors now hold 38.43% of SoFi's stock, with significant acquisitions made by firms such as Two Sigma Advisers and Vanguard Group.
• SoFi reported a quarterly earnings per share (EPS) of $0.08, exceeding analysts' expectations and showing a 42.8% revenue increase year-over-year, although revenues fell short of estimates.

Bayforest Capital Ltd bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,130 shares of the company's stock, valued at approximately $490,000.

Other hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP bought a new stake in SoFi Technologies during the 4th quarter valued at about $299,980,000. Voloridge Investment Management LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at $75,139,000. Nuveen LLC bought a new stake in shares of SoFi Technologies in the 1st quarter worth $47,616,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SoFi Technologies by 58.3% in the 1st 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in 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 buying an additional 1,130,250 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Up 0.0%

SOFI opened at $25.97 on Wednesday. The stock has a market cap of $31.10 billion, a price-to-earnings ratio of 54.10, a price-to-earnings-growth ratio of 3.07 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The firm's fifty day moving average is $22.60 and its 200 day moving average is $16.38. SoFi Technologies, Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $26.60.

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

Analysts Set New Price Targets

A number of analysts have recently commented on SOFI shares. Cowen initiated coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating for the company. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. Barclays increased their price target on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Needham & Company LLC lifted their price objective on SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Rothschild & Co Redburn assumed coverage on SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average price target of $19.35.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,959 shares of company stock worth $1,653,646 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

About SoFi Technologies

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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