Sumitomo Mitsui Trust Group Inc. Sells 37,369 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Sumitomo Mitsui Trust Group reduced its SoFi stake by 0.7%, selling 37,369 shares and retaining 5.65 million shares valued at approximately $88.8 million. Institutional investors and hedge funds collectively own 38.43% of the company.
• Analyst sentiment remains mixed: SoFi has a consensus rating of “Hold” and an average price target of $21.23, with ratings ranging from “Strong Buy” to “Sell.”
• SoFi exceeded quarterly expectations, reporting $0.18 in EPS and $1.37 billion in revenue, up 44.4% year over year; the stock opened at $16.60, near its 50-day moving average.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,647,053 shares of the company's stock after selling 37,369 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.44% of SoFi Technologies worth $88,772,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of SoFi Technologies in the third quarter worth $46,000. Vise Technologies Inc. increased its holdings in shares of SoFi Technologies by 237.7% during the third quarter. Vise Technologies Inc. now owns 179,233 shares of the company's stock worth $2,818,000 after buying an additional 126,164 shares in the last quarter. Intrua Financial LLC boosted its stake in shares of SoFi Technologies by 9.9% during the third quarter. Intrua Financial LLC now owns 19,515 shares of the company's stock valued at $307,000 after purchasing an additional 1,750 shares in the last quarter. Partners Wealth Management LLC bought a new stake in SoFi Technologies during the 3rd quarter worth approximately $287,000. Finally, D.A. Davidson & CO. increased its holdings in SoFi Technologies by 33.4% in the third quarter. D.A. Davidson & CO. now owns 397,064 shares of the company's stock valued at $6,242,000 after purchasing an additional 99,405 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SOFI shares. Monness Crespi & Hardt began coverage on shares of SoFi Technologies in a research report on Monday, October 26th. They issued a "buy" rating and a $20.00 price target on the stock. Bank of America reiterated an "underperform" rating and issued a $16.50 price target on shares of SoFi Technologies in a report on Wednesday, October 28th. Piper Sandler initiated coverage on shares of SoFi Technologies in a report on Monday, August 17th. They issued an "overweight" rating and a $22.00 target price on the stock. Truist Financial dropped their price objective on SoFi Technologies from $19.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday, October 23rd. Finally, Scotiabank restated a "sector outperform" rating and issued a $26.00 target price (up from $25.00) on shares of SoFi Technologies in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $21.23.

Trending Headlines about SoFi Technologies

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

• Positive Sentiment: SoFi shares rose as falling oil prices reduced inflation and interest-rate concerns, helping lift financial stocks broadly. SoFi Stock Rises as Oil Prices Calm Inflation Fears
• Positive Sentiment: Recent coverage highlighted a record addition of 1.2 million members in the latest quarter, reinforcing the company’s continued growth despite the stock’s decline for the year. SoFi Added a Record 1.2 Million Members Last Quarter
• Positive Sentiment: SoFi’s third-quarter results exceeded expectations, with approximately $1.34 billion in revenue and $241 million in net income. Management also forecast fourth-quarter revenue near $1.375 billion, representing roughly 36% year-over-year growth. How Earnings Beat At SoFi Stock Has Changed Its Investment Story
• Positive Sentiment: Analysts and investors are focusing on the company’s upgraded outlook, expanding financial-services business, higher-margin fee revenue, and potential profitability gains. One forecast calls for $6.4 billion in adjusted revenue and $0.90 EPS in fiscal 2027. SoFi Technologies: On The Brink Of A Major Profitability Breakout
• Positive Sentiment: New initiatives—including SoFiUSD blockchain settlement through Mastercard and tokenized deposits—could broaden the platform and diversify revenue beyond personal lending. SoFi Just Made a Big Move Into Blockchain Payments

SoFi Technologies Trading Down 1.0%

NASDAQ:SOFI opened at $16.60 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. SoFi Technologies, Inc. has a 1 year low of $13.86 and a 1 year high of $32.73. The company has a market cap of $21.44 billion, a P/E ratio of 30.18, a P/E/G ratio of 0.99 and a beta of 2.33. The stock's fifty day moving average price is $16.53 and its two-hundred day moving average price is $17.84.

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

Insider Activity

In other news, EVP Kelli Keough sold 11,286 shares of SoFi Technologies stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the sale, the executive vice president directly owned 356,442 shares of the company's stock, valued at approximately $6,415,956. The trade was a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the company's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the transaction, the chief technology officer owned 912,650 shares of the company's stock, valued at $15,971,375. The trade was a 2.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 50,316 shares of company stock valued at $852,605. 2.50% of the stock is owned by company insiders.

About SoFi Technologies

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi's offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.

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