SoFi Technologies, Inc. $SOFI Shares Purchased by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in SoFi Technologies by 531,816.7% in Q2, now holding 95,745 shares valued at approximately $1.74 million.
• SoFi Technologies reported $0.08 earnings per share for the last quarter, exceeding estimates, while revenue grew by 42.8% year-over-year, totaling $519.37 million.
• SoFi's current stock performance reflects a market cap of $33.62 billion, a price-to-earnings ratio of 58.50, and a recent trading price around $28.08.

Caitong International Asset Management Co. Ltd lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 531,816.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,745 shares of the company's stock after acquiring an additional 95,727 shares during the quarter. SoFi Technologies accounts for 1.2% of Caitong International Asset Management Co. Ltd's holdings, making the stock its 14th biggest position. Caitong International Asset Management Co. Ltd's holdings in SoFi Technologies were worth $1,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after buying an additional 1,130,250 shares during the period. Sullivan Wood Capital Management LLC acquired a new stake in SoFi Technologies during the second quarter valued at $2,799,000. Blair William & Co. IL grew its position in SoFi Technologies by 443.9% during the second quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock valued at $6,113,000 after buying an additional 273,972 shares during the period. CMG Global Holdings LLC grew its position in SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after buying an additional 61,443 shares during the period. Finally, Nicholas Wealth LLC. acquired a new stake in SoFi Technologies during the first quarter valued at $993,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Stock Performance

SOFI opened at $28.08 on Friday. 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 company has a market cap of $33.62 billion, a price-to-earnings ratio of 58.50, a PEG ratio of 3.23 and a beta of 1.92. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $30.30. The firm's fifty day simple moving average is $26.52 and its two-hundred day simple moving average is $19.65.

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

Wall Street Analyst Weigh In

SOFI has been the topic of several analyst reports. JMP Securities restated a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Keefe, Bruyette & Woods raised their price target on shares of SoFi Technologies from $14.00 to $18.00 and gave the company an "underperform" rating in a research report on Wednesday, October 15th. Citizens Jmp downgraded shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. Finally, TD Cowen assumed coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating and a $21.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.71.

Insider Activity

In other news, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,383 shares of company stock worth $3,513,171. Insiders own 2.60% of the company's stock.

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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