Federation des caisses Desjardins du Quebec Boosts Stock Position in SoFi Technologies, Inc. $SOFI

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in SoFi Technologies, acquiring an additional 29,030 shares, raising its total to 319,187 shares worth approximately $3.71 million.
• SoFi Technologies' latest quarterly earnings reported an EPS of $0.08, exceeding analysts' expectations, with revenues of $519.37 million, which was below the forecast of $801.94 million.
• Analysts have set varied price targets for SoFi Technologies, with Citigroup raising its target from $18 to $28, while the average rating remains at "Hold" with a target of $19.35.

Federation des caisses Desjardins du Quebec increased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 10.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,187 shares of the company's stock after buying an additional 29,030 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in SoFi Technologies were worth $3,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Elequin Capital LP boosted its stake in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after purchasing an additional 631 shares during the period. Bank of New Hampshire lifted its holdings in shares of SoFi Technologies by 33.3% in the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after buying an additional 1,000 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in SoFi Technologies by 16.7% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock worth $81,000 after acquiring an additional 1,000 shares during the period. Arkadios Wealth Advisors lifted its position in SoFi Technologies by 1.8% during the first quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock worth $737,000 after buying an additional 1,092 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of SoFi Technologies by 6.2% in the first quarter. Signaturefd LLC now owns 21,476 shares of the company's stock valued at $250,000 after buying an additional 1,246 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction dated Wednesday, August 20th. The stock was 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 owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 185,099 shares of company stock valued at $2,907,591. 2.60% of the stock is owned by company insiders.

SoFi Technologies Price Performance

SOFI stock traded up $0.41 during trading on Monday, hitting $26.01. 42,363,102 shares of the company's stock traded hands, compared to its average volume of 61,194,348. The business has a fifty day simple moving average of $22.27 and a 200 day simple moving average of $16.23. The stock has a market capitalization of $31.14 billion, a price-to-earnings ratio of 53.74, a P/E/G ratio of 3.03 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. 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 data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company's quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup increased their price target on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. 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 research report on Wednesday, August 20th. The Goldman Sachs Group started coverage on shares of SoFi Technologies in a report on Monday, July 14th. They set a "neutral" rating and a $19.00 price target for the company. Finally, JMP Securities reiterated a "market perform" rating and set a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $19.35.

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.