Sumitomo Mitsui Trust Group Inc. Purchases 156,218 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in SoFi Technologies by 2.8% in the first quarter, adding 156,218 shares and bringing its total holding to 5.69 million shares valued at about $90.3 million.
• Insider selling continued, with EVP Kelli Keough and CTO Jeremy Rishel both selling shares under pre-arranged trading plans; insiders sold 134,044 shares over the last three months.
• SoFi reported solid quarterly results, posting $0.12 EPS in line with expectations and revenue of $1.09 billion, up 42.6% year over year, while analysts currently rate the stock a consensus Hold with an average price target of $22.78.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,689,426 shares of the company's stock after purchasing an additional 156,218 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.45% of SoFi Technologies worth $90,348,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Firsthand Capital Management Inc. grew its position in SoFi Technologies by 60.0% during the third quarter. Firsthand Capital Management Inc. now owns 80,000 shares of the company's stock valued at $2,114,000 after buying an additional 30,000 shares during the period. SG Americas Securities LLC raised its position in SoFi Technologies by 161.6% in the fourth quarter. SG Americas Securities LLC now owns 902,392 shares of the company's stock worth $23,625,000 after acquiring an additional 557,390 shares during the period. Vanguard Group Inc. raised its position in SoFi Technologies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after acquiring an additional 3,900,895 shares during the period. North Dakota State Investment Board purchased a new position in SoFi Technologies in the fourth quarter valued at about $1,044,000. Finally, Brighton Jones LLC grew its position in shares of SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after acquiring an additional 14,281 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,954 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.35, for a total transaction of $190,051.90. Following the sale, the executive vice president owned 378,682 shares of the company's stock, valued at approximately $6,570,132.70. This represents a 2.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the transaction, the chief technology officer owned 895,089 shares of the company's stock, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 134,044 shares of company stock valued at $2,370,056 over the last three months. Company insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

SOFI has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $18.00 price target on shares of SoFi Technologies in a research note on Thursday, April 30th. Argus started coverage on SoFi Technologies in a report on Wednesday, April 15th. They set a "hold" rating for the company. Weiss Ratings downgraded SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Stephens lowered their target price on SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $16.00 price target on SoFi Technologies in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $22.78.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI traded up $0.16 during midday trading on Friday, hitting $18.78. The company's stock had a trading volume of 91,469,685 shares, compared to its average volume of 76,696,920. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 42.68 and a beta of 2.14. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average price of $16.92 and a 200 day moving average price of $19.49. SoFi Technologies, Inc. has a one year low of $14.92 and a one year high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm earned $0.06 EPS. SoFi Technologies's revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

SoFi Technologies Profile

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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