Canada Pension Plan Investment Board Takes Position in SoFi Technologies, Inc. $SOFI

Key Points

• The Canada Pension Plan Investment Board has acquired 316,100 shares of SoFi Technologies, valued at approximately $3.68 million, reflecting increasing institutional interest in the company.
• Insider sales have occurred recently, including EVP Kelli Keough and CTO Jeremy Rishel selling a combined total of over 77,000 shares, with insiders selling nearly $2.91 million worth of stock in the last ninety days.
• SoFi Technologies has seen a stock price increase of 3.6%, reaching $25.38, and reported significant quarterly earnings exceeding analysts' expectations, despite a revenue shortfall.

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.

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

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.