FORA Capital LLC Buys 270,664 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• FORA Capital LLC increased its stake in SoFi Technologies by 40.6% in the first quarter, now owning 937,942 shares valued at approximately $10.91 million.
• Several institutional investors, including Vanguard Group Inc. and CMG Global Holdings LLC, also increased their holdings in SoFi Technologies, bringing institutional ownership to 38.43%.
• SoFi Technologies reported earnings of $0.08 per share, exceeding expectations, although its revenue of <$519.37 million significantly fell short of analyst estimates.

FORA Capital LLC lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 40.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 937,942 shares of the company's stock after acquiring an additional 270,664 shares during the period. SoFi Technologies accounts for approximately 1.1% of FORA Capital LLC's holdings, making the stock its 10th biggest position. FORA Capital LLC owned approximately 0.09% of SoFi Technologies worth $10,908,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $32,000. Hazlett Burt & Watson Inc. lifted its stake in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. Finally, Garde Capital Inc. acquired a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $31,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction that occurred 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 sale, the director owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 272,239 shares of company stock worth $4,123,194 over the last 90 days. 2.60% of the stock is owned by company insiders.

SoFi Technologies Trading Down 2.6%

Shares of SOFI stock traded down $0.66 during trading hours on Wednesday, reaching $24.96. 54,111,717 shares of the stock traded hands, compared to its average volume of 75,439,688. SoFi Technologies, Inc. has a 1-year low of $6.75 and a 1-year high of $26.60. The business has a fifty day moving average price of $20.96 and a 200 day moving average price of $15.75. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $29.89 billion, a PE ratio of 52.00, a PEG ratio of 3.17 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The business had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm's revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 price target for the company. Keefe, Bruyette & Woods increased their target price on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Finally, JMP Securities reissued a "market perform" rating and set a $17.00 target price on shares of SoFi Technologies in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.