Jump Financial LLC decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 77.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,727 shares of the company's stock after selling 661,988 shares during the quarter. Jump Financial LLC's holdings in SoFi Technologies were worth $2,276,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP purchased a new stake in SoFi Technologies in the fourth quarter valued at about $299,980,000. Voloridge Investment Management LLC purchased a new position in shares of SoFi Technologies in the 4th quarter valued at approximately $75,139,000. Nuveen LLC acquired a new stake in SoFi Technologies in the 1st quarter worth approximately $47,616,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SoFi Technologies by 58.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company's stock worth $50,467,000 after purchasing an additional 1,598,721 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at SoFi Technologies
In related news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 272,239 shares of company stock valued at $4,123,194 in the last 90 days. 2.60% of the stock is currently owned by company insiders.
SoFi Technologies Stock Performance
NASDAQ SOFI opened at $25.62 on Wednesday. The firm has a market capitalization of $30.68 billion, a P/E ratio of 53.38, a PEG ratio of 3.24 and a beta of 1.93. The stock has a 50-day simple moving average of $20.77 and a two-hundred day simple moving average of $15.69. 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 fifty-two week low of $6.75 and a fifty-two week high of $26.61.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.SoFi Technologies's revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SOFI. Keefe, Bruyette & Woods raised their price target on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Stephens started coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price for the company. TD Cowen started coverage on SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 price target on the stock. Truist Financial set a $23.00 price objective on SoFi Technologies in a report on Monday, August 4th. Finally, Citizens Jmp downgraded SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $19.35.
Check Out Our Latest Stock Report on SOFI
SoFi Technologies Profile
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Free Report)
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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