Quantitative Investment Management LLC Invests $2.86 Million in SoFi Technologies, Inc. $SOFI

Key Points

• Quantitative Investment Management LLC invested approximately $2.86 million in SoFi Technologies, purchasing 246,139 shares during the first quarter.
• Multiple institutional investors increased their stakes in SoFi Technologies, with Two Sigma Advisers LP investing nearly $300 million in the fourth quarter alone.
• SoFi Technologies reported quarterly earnings with an EPS of $0.08, exceeding estimates, while revenue increased 42.8% year-over-year but fell short of expectations.

Quantitative Investment Management LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 246,139 shares of the company's stock, valued at approximately $2,862,000.

A number of other institutional investors have also recently modified their holdings of SOFI. Brighton Jones LLC grew its stake in shares of 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 acquiring an additional 14,281 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of SoFi Technologies by 133.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,643 shares of the company's stock valued at $303,000 after buying an additional 11,212 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at $204,000. Price T Rowe Associates Inc. MD boosted its position in shares of SoFi Technologies by 2.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,518,141 shares of the company's stock valued at $23,380,000 after buying an additional 41,248 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of SoFi Technologies by 150.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 86,488 shares of the company's stock valued at $1,332,000 after buying an additional 52,021 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SOFI has been the topic of several recent analyst reports. Stephens initiated coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. Citigroup increased their price objective on SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Morgan Stanley reaffirmed an "underweight" rating and set a $13.00 price objective (up from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. Truist Financial set a $23.00 price objective on SoFi Technologies in a research report on Monday, August 4th. Finally, UBS Group raised their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.35.

SoFi Technologies Stock Performance

NASDAQ:SOFI traded up $1.13 on Monday, hitting $26.15. The stock had a trading volume of 89,870,878 shares, compared to its average volume of 79,393,200. The stock has a market cap of $31.31 billion, a price-to-earnings ratio of 54.48, a price-to-earnings-growth ratio of 3.10 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 business's 50-day simple moving average is $20.54 and its two-hundred day simple moving average is $15.62. SoFi Technologies, Inc. has a 52-week low of $6.75 and a 52-week high of $26.38.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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 last year, the company earned $0.01 earnings per share. The business's revenue for the quarter 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. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was 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 of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the sale, the executive vice president directly 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. In the last 90 days, insiders have sold 272,239 shares of company stock valued at $4,123,194. 2.60% of the stock is owned by company insiders.

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.