SoFi Technologies, Inc. $SOFI Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in SoFi Technologies by 91.4%, selling 37,588 shares and holding only 3,536 shares as of its latest SEC filing.
• SoFi Technologies reported a quarterly earnings beat with $0.08 EPS, above analysts' expectations of $0.06, although its revenue fell short at $519.37 million compared to the $801.94 million consensus estimate.
• Institutional investors collectively hold 38.43% of SoFi's stock, with notable activity including new positions from several funds and significant increases in holdings by others during Q1.

Mirae Asset Global Investments Co. Ltd. lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 91.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,536 shares of the company's stock after selling 37,588 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in SoFi Technologies were worth $64,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SOFI. Nuveen LLC acquired a new position in shares of SoFi Technologies during the 1st quarter worth approximately $47,616,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in SoFi Technologies by 58.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company's stock worth $50,467,000 after buying an additional 1,598,721 shares in the last quarter. Vanguard Group Inc. increased 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 worth $1,156,805,000 after buying an additional 1,130,250 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of SoFi Technologies in the first quarter worth $9,715,000. Finally, SG Americas Securities LLC lifted its position in shares of SoFi Technologies by 138.3% in the first quarter. SG Americas Securities LLC now owns 156,465 shares of the company's stock valued at $1,820,000 after acquiring an additional 565,390 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $26.19 on Monday. The company has a market cap of $31.36 billion, a P/E ratio of 54.57, a P/E/G ratio of 3.11 and a beta of 1.92. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a 52 week low of $8.60 and a 52 week high of $30.30. The business has a fifty day simple moving average of $25.59 and a 200-day simple moving average of $18.73.

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

Insider Activity

In other news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares of the company's stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kelli Keough sold 10,578 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 129,614 shares of company stock worth $3,452,672 over the last ninety days. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JMP Securities reissued a "market perform" rating and issued a $17.00 target price on shares of SoFi Technologies in a research note on Monday, July 14th. Citigroup lifted their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. raised their target price on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, Citizens Jmp downgraded SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.18.

SoFi Technologies Company 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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