Intech Investment Management LLC Raises Stock Position in SoFi Technologies, Inc. $SOFI

Key Points

• Intech Investment Management LLC increased its stake in SoFi Technologies by 12.5%, holding $2.10 million worth of stock as of its latest SEC filing.
• SoFi Technologies reported $0.08 earnings per share for the last quarter, surpassing analysts' expectations, while revenue increased by 42.8% year-over-year.
• Several large investors, including Vanguard Group and CMG Global Holdings, adjusted their positions in SoFi Technologies during the first quarter, contributing to a significant institutional ownership rate of 38.43%.

Intech Investment Management LLC raised its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 12.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 180,798 shares of the company's stock after acquiring an additional 20,056 shares during the quarter. Intech Investment Management LLC's holdings in SoFi Technologies were worth $2,103,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SOFI. Vanguard Group Inc. increased its position in 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 acquiring an additional 1,130,250 shares during the period. CMG Global Holdings LLC lifted its stake in SoFi Technologies by 77.8% in the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after purchasing an additional 61,443 shares in the last quarter. Nicholas Wealth LLC. purchased a new position in SoFi Technologies in the 1st quarter worth approximately $993,000. Quantitative Investment Management LLC bought a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $2,862,000. Finally, Sierra Summit Advisors LLC bought a new stake in SoFi Technologies during the 1st quarter valued at $9,715,000. Institutional investors own 38.43% of the company's stock.

Insider Activity

In other news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 of the company's stock, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,959 shares of company stock worth $1,653,646 in the last three months. Company insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

Shares of SOFI traded down $0.28 during mid-day trading on Wednesday, hitting $27.14. The stock had a trading volume of 72,749,167 shares, compared to its average volume of 65,141,216. SoFi Technologies, Inc. has a fifty-two week low of $7.57 and a fifty-two week high of $27.88. The company has a market cap of $32.50 billion, a PE ratio of 56.54, a PEG ratio of 3.26 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. The company's fifty day simple moving average is $23.51 and its two-hundred day simple moving average is $16.88.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business's quarterly 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 analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. The Goldman Sachs Group started coverage on shares of SoFi Technologies in a research note on Monday, July 14th. They set a "neutral" rating and a $19.00 target price for the company. JMP Securities reiterated a "market perform" rating and issued a $17.00 target price on shares of SoFi Technologies in a report on Monday, July 14th. Needham & Company LLC upped their price objective on SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Finally, Rothschild & Co Redburn started coverage on SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective on the stock. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.59.

SoFi Technologies 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.