Consolidated Investment Group LLC Buys 50,000 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Consolidated Investment Group LLC increased its stake in SoFi Technologies by 33.1%, acquiring 50,000 additional shares during the second quarter, bringing its total holdings to 201,085 shares valued at approximately $3.66 million.
• SoFi Technologies reported earnings of $0.08 per share in its latest quarter, exceeding analysts' expectations of $0.06, although revenue of $519.37 million fell short of projected figures.
• Insider trading was noted as CTO Jeremy Rishel sold over 98,000 shares valued at around $2.71 million, marking an 11.50% decrease in his ownership, while other executives also reduced their holdings.

Consolidated Investment Group LLC lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 33.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,085 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Consolidated Investment Group LLC's holdings in SoFi Technologies were worth $3,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after acquiring an additional 1,130,250 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock worth $75,278,000 after acquiring an additional 159,109 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of SoFi Technologies by 58.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company's stock worth $50,467,000 after acquiring an additional 1,598,721 shares during the period. Nuveen LLC purchased a new position in shares of SoFi Technologies in the first quarter worth approximately $47,616,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of SoFi Technologies by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 3,261,225 shares of the company's stock worth $37,928,000 after buying an additional 37,855 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Down 2.8%

Shares of SOFI opened at $25.24 on Friday. The company's fifty day moving average is $25.03 and its 200 day moving average is $18.15. SoFi Technologies, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $30.30. The stock has a market capitalization of $30.22 billion, a PE ratio of 52.58, a P/E/G ratio of 3.09 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

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, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. SoFi Technologies's quarterly revenue was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citizens Jmp downgraded shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. Cowen assumed coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Citigroup raised their price objective on shares of SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $20.18.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction 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 transaction, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 10,578 shares of the business's 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 transaction, the executive vice president owned 234,622 shares in the company, 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 129,614 shares of company stock worth $3,452,672 in the last quarter. Company insiders own 2.60% of the company's stock.

SoFi Technologies Company 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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