SCS Capital Management LLC Makes New $193,000 Investment in SoFi Technologies, Inc. $SOFI

Key Points

• SCS Capital Management LLC made a new investment of $193,000 in SoFi Technologies, acquiring 16,601 shares during the first quarter.
• Analyst ratings on SoFi Technologies include a mix of one Strong Buy, six Buy, eleven Hold, and three Sell, with a consensus price target of $19.59.
• SoFi Technologies recently reported earnings of $0.08 per share, exceeding estimates, with a revenue of $519.37 million, reflecting a 42.8% year-over-year growth.

SCS Capital Management LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,601 shares of the company's stock, valued at approximately $193,000.

Several other hedge funds have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of SoFi Technologies by 8.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,725,268 shares of the company's stock worth $31,695,000 after buying an additional 205,908 shares in the last quarter. Empowered Funds LLC lifted its position in shares of SoFi Technologies by 5.2% during the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company's stock worth $385,000 after buying an additional 1,631 shares in the last quarter. Caxton Associates LLP bought a new position in shares of SoFi Technologies during the 1st quarter worth approximately $129,000. Coordinated Financial Services Inc. CO bought a new position in shares of SoFi Technologies during the 1st quarter worth approximately $299,000. Finally, NewEdge Advisors LLC lifted its position in shares of SoFi Technologies by 19.1% during the 1st quarter. NewEdge Advisors LLC now owns 195,360 shares of the company's stock worth $2,272,000 after buying an additional 31,360 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Analysts Set New Price Targets

SOFI has been the topic of several recent analyst reports. JMP Securities reissued a "market perform" rating and set a $17.00 target price on shares of SoFi Technologies in a research report on Monday, July 14th. Citizens Jmp cut shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. Rothschild & Co Redburn started coverage on shares of SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price target on the stock. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a report on Friday, August 1st. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.59.

SoFi Technologies Stock Up 2.3%

SoFi Technologies stock opened at $26.55 on Friday. SoFi Technologies, Inc. has a 1-year low of $7.52 and a 1-year high of $26.85. The firm has a market capitalization of $31.79 billion, a price-to-earnings ratio of 55.31, a P/E/G ratio of 3.07 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $23.05 and a 200 day simple moving average of $16.61.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share 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 during the quarter, compared to analyst estimates of $801.94 million. During the same period in the previous year, the business earned $0.01 EPS. SoFi Technologies'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, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 completion of the transaction, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the business'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 transaction, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,959 shares of company stock valued at $1,653,646 over the last quarter. 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.

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