Canada Pension Plan Investment Board acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 316,100 shares of the company's stock, valued at approximately $3,676,000.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 valued at $1,156,805,000 after buying an additional 1,130,250 shares during the period. CMG Global Holdings LLC lifted its holdings in SoFi Technologies by 77.8% in the first 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. Nicholas Wealth LLC. purchased a new position in SoFi Technologies in the first quarter worth approximately $993,000. Quantitative Investment Management LLC purchased a new position in SoFi Technologies in the first quarter worth approximately $2,862,000. Finally, Sierra Summit Advisors LLC acquired a new stake in SoFi Technologies during the first quarter worth $9,715,000. 38.43% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated 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 sale, the chief technology officer directly 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 disclosure for this sale can be found here. Insiders sold 185,099 shares of company stock worth $2,907,591 in the last 90 days. Corporate insiders own 2.60% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently commented on SOFI. Keefe, Bruyette & Woods upped their price target on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Rothschild & Co Redburn began coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They issued a "neutral" rating and a $20.50 target price on the stock. 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, The Goldman Sachs Group assumed coverage on shares of SoFi Technologies in a research report on Monday, July 14th. They set a "neutral" rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average target price of $19.35.
Check Out Our Latest Research Report on SoFi Technologies
SoFi Technologies Stock Up 0.9%
SOFI stock traded up $0.22 during midday trading on Friday, hitting $25.60. The company's stock had a trading volume of 71,055,516 shares, compared to its average volume of 64,642,624. The firm has a 50-day simple moving average of $22.27 and a 200-day simple moving average of $16.23. The firm has a market capitalization of $30.65 billion, a P/E ratio of 53.33, a PEG ratio of 3.03 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. SoFi Technologies, Inc. has a 52-week low of $6.75 and a 52-week high of $26.60.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly 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. The company had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.SoFi Technologies's revenue was up 42.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
About SoFi Technologies
(
Free Report)
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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