Daiichi Life Insurance Co. Ltd. acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,644 shares of the company's stock, valued at approximately $783,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in SoFi Technologies in the 2nd quarter worth $1,298,925,000. Vanguard Group Inc. grew its holdings in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock valued at $2,906,061,000 after purchasing an additional 3,900,895 shares during the period. North Dakota State Investment Board bought a new stake in SoFi Technologies during the fourth quarter valued at about $1,044,000. Brighton Jones LLC increased its position in SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after buying an additional 14,281 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in SoFi Technologies in the fourth quarter worth about $13,299,000. Hedge funds and other institutional investors own 38.43% of the company's stock.
Insider Buying and Selling
In other news, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares in the company, valued at $15,914,682.42. This trade represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 11,286 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the transaction, the executive vice president directly owned 356,442 shares in the company, valued at $6,415,956. This trade represents a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 136,505 shares of company stock valued at $2,418,096. Insiders own 2.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. TD Cowen lowered their price objective on SoFi Technologies from $24.00 to $18.00 and set a "hold" rating on the stock in a research report on Thursday, April 30th. Citigroup reduced their target price on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 4th. Mizuho decreased their target price on shares of SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $18.00 price target on shares of SoFi Technologies in a report on Thursday, April 30th. Finally, Morgan Stanley dropped their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a research report on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $22.42.
Check Out Our Latest Analysis on SOFI
SoFi Technologies Stock Performance
NASDAQ SOFI opened at $18.24 on Tuesday. The firm has a market cap of $23.56 billion, a price-to-earnings ratio of 38.00 and a beta of 2.17. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $17.75 and a 200-day moving average price of $17.59. SoFi Technologies, Inc. has a twelve month low of $14.88 and a twelve month high of $32.73.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.08 EPS. The firm's quarterly revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.
SoFi Technologies Profile
(
Free Report)
SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.
SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.
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