Quarry LP Boosts Stock Position in SoFi Technologies, Inc. $SOFI

Key Points

• Quarry LP increased its stake in SoFi Technologies by 372.4%, acquiring an additional 11,530 shares, bringing its total to 14,626 shares valued at approximately $170,000.
• Several institutional investors, including Vanguard Group and Northern Trust Corp, have also boosted their positions in SoFi Technologies, indicating strong interest in the company.
• SoFi Technologies beat earnings expectations with an EPS of $0.08 for the last quarter, but reported revenue of $519.37 million, significantly below analyst estimates of $801.94 million.

Quarry LP grew its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 372.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,626 shares of the company's stock after buying an additional 11,530 shares during the period. Quarry LP's holdings in SoFi Technologies were worth $170,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial set a $23.00 price target on SoFi Technologies in a report on Monday, August 4th. Barclays upped their price target on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Redburn Atlantic raised SoFi Technologies to a "hold" rating in a report on Friday, August 1st. Finally, Needham & Company LLC upped their price target on SoFi Technologies from $20.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.35.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI traded down $0.63 during trading on Tuesday, hitting $24.91. The company had a trading volume of 75,834,641 shares, compared to its average volume of 61,667,380. The stock has a 50 day simple moving average of $21.77 and a 200 day simple moving average of $16.04. 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 12 month low of $6.75 and a 12 month high of $26.60. The firm has a market capitalization of $29.83 billion, a P/E ratio of 51.90, a price-to-earnings-growth ratio of 3.02 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm's revenue was up 42.8% on a year-over-year basis. During the same quarter last year, the business posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on 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 directly owned 234,622 shares of the company's stock, valued at $5,192,184.86. The trade was a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 272,239 shares of company stock valued at $4,123,194. Insiders own 2.60% of the company's stock.

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.