SoFi Technologies, Inc. $SOFI Shares Newly Bought by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management LLP initiated a position in SoFi Technologies, buying 130,785 shares worth approximately $2.08 million in the third quarter.
• Institutional investors and hedge funds collectively own 38.43% of SoFi shares; several major firms also reported recently acquiring stakes.
• SoFi reported quarterly EPS of $0.18, above the $0.17 consensus, and revenue of $1.37 billion versus estimates of $1.25 billion, up 44.4% year over year.

Fulcrum Asset Management LLP purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 130,785 shares of the company's stock, valued at approximately $2,081,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in SoFi Technologies in the second quarter valued at about $1,298,925,000. Bank of America Corp DE bought a new position in SoFi Technologies during the second quarter worth about $163,808,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in SoFi Technologies during the second quarter worth about $93,937,000. Bank of New York Mellon Corp acquired a new stake in SoFi Technologies during the second quarter valued at approximately $72,531,000. Finally, Legal & General Group Plc acquired a new stake in SoFi Technologies during the second quarter valued at approximately $64,706,000. Institutional investors and hedge funds own 38.43% of the company's stock.

More SoFi Technologies News

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: SoFi’s CEO called the third quarter “exceptional,” and the company’s 2027 earnings guidance of $0.90 per share helped drive a sharp rally after the results. SoFi CEO Calls Q3 “Exceptional” as 2027 Guide Lands at $0.90 a Share
• Neutral Sentiment: A report says SoFi may need 13% member growth to reach 20 million users in 2027, highlighting a potential growth milestone but not providing a near-term catalyst. SoFi Technologies Needs Just 13% Member Growth To Cross 20 Million Users In 2027
• Negative Sentiment: A hot inflation reading unsettled rate-sensitive fintech lenders. SoFi declined alongside peers, as investors weighed the potential impact of the inflation backdrop on lending businesses. Hot Inflation Report Hits Fintech Lenders

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $16.37 on Wednesday. The firm has a market cap of $21.14 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 1.04 and a beta of 2.25. SoFi Technologies, Inc. has a 12 month low of $13.86 and a 12 month high of $32.73. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $16.30 and its two-hundred day moving average price is $17.55.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.25 billion. SoFi Technologies had a net margin of 15.60% and a return on equity of 6.89%. The company's revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the topic of several analyst reports. Truist Financial upped their price objective on SoFi Technologies from $16.00 to $17.00 and gave the company a "hold" rating in a research note on Tuesday, November 3rd. Morgan Stanley cut their target price on SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a research report on Thursday, July 30th. Monness Crespi & Hardt began coverage on SoFi Technologies in a research note on Monday, October 26th. They issued a "buy" rating and a $20.00 price target on the stock. Piper Sandler initiated coverage on SoFi Technologies in a research report on Monday, August 17th. They issued an "overweight" rating and a $22.00 price target on the stock. Finally, Wells Fargo & Company reiterated a "negative" rating on shares of SoFi Technologies in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.27.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president directly owned 356,442 shares of the company's stock, valued at $6,415,956. The trade was a 3.07% 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 18,624 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $17.50, for a total value of $325,920.00. Following the sale, the chief technology officer owned 912,650 shares in the company, valued at approximately $15,971,375. This trade represents a 2.00% 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. Insiders sold a total of 50,316 shares of company stock worth $852,605 over the last three months. 2.50% of the stock is owned by company insiders.

About SoFi Technologies

SoFi Technologies, Inc. is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings. Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.

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