Renaissance Technologies LLC Invests $36.80 Million in SoFi Technologies, Inc. $SOFI

Key Points

• Renaissance Technologies acquired 2.32 million SoFi Technologies shares worth approximately $36.8 million, giving it a 0.18% stake. Institutional investors collectively own 38.43% of SOFI.
• SoFi reported quarterly EPS of $0.12, in line with estimates, while revenue of $1.09 billion exceeded expectations and rose 42.6% year over year. Analysts project approximately $0.59 in full-year EPS.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $22.83; recent targets ranged from $16 to $30. Insiders sold about $2.18 million of shares during the latest quarter.

Renaissance Technologies LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,317,400 shares of the company's stock, valued at approximately $36,800,000. Renaissance Technologies LLC owned approximately 0.18% of SoFi Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SOFI. Capital Advisors Wealth Management LLC increased its holdings in SoFi Technologies by 0.4% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company's stock worth $2,866,000 after purchasing an additional 401 shares during the period. First Horizon Corp boosted its stake in shares of SoFi Technologies by 14.9% in the 4th quarter. First Horizon Corp now owns 3,116 shares of the company's stock valued at $82,000 after buying an additional 405 shares during the period. Cigna Investments Inc. New grew its position in shares of SoFi Technologies by 3.8% during the fourth quarter. Cigna Investments Inc. New now owns 11,440 shares of the company's stock worth $299,000 after buying an additional 416 shares in the last quarter. Wealthspan Partners LLC grew its position in shares of SoFi Technologies by 2.4% during the fourth quarter. Wealthspan Partners LLC now owns 18,901 shares of the company's stock worth $495,000 after buying an additional 450 shares in the last quarter. Finally, ORG Partners LLC increased its stake in shares of SoFi Technologies by 31.6% during the fourth quarter. ORG Partners LLC now owns 1,892 shares of the company's stock worth $50,000 after buying an additional 454 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $16.88 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. SoFi Technologies, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $32.73. The firm has a market capitalization of $21.65 billion, a PE ratio of 38.36 and a beta of 2.14. The stock's 50-day simple moving average is $17.24 and its 200-day simple moving average is $18.68.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.12. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The firm's quarterly revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,954 shares of SoFi Technologies stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $17.35, for a total transaction of $190,051.90. Following the sale, the executive vice president directly owned 378,682 shares in the company, valued at $6,570,132.70. This trade represents a 2.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares of the company's stock, valued at approximately $15,914,682.42. This trade represents a 10.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 124,302 shares of company stock worth $2,182,523. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on SOFI shares. UBS Group reduced their target price on shares of SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. Citigroup lowered their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 4th. Morgan Stanley set a $16.00 price objective on shares of SoFi Technologies in a research report on Thursday, April 30th. Mizuho set a $29.00 price objective on shares of SoFi Technologies in a report on Wednesday, May 6th. Finally, Weiss Ratings cut shares of SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.83.

About SoFi Technologies

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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