Versor Investments LP Buys New Position in SoFi Technologies, Inc. $SOFI

Key Points

• Versor Investments LP has acquired a new position in SoFi Technologies, buying 21,900 shares valued at approximately $255,000 in the first quarter.
• SoFi Technologies reported a 42.8% year-over-year revenue increase, with quarterly earnings coming in at $0.08 per share, exceeding expectations.
• Multiple research firms have set new price targets for SoFi Technologies, with Needham & Company raising their target from $20.00 to $25.00 and Morgan Stanley maintaining an underweight rating with a target of $13.00.

Versor Investments LP bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,900 shares of the company's stock, valued at approximately $255,000.

Other large investors have also recently made changes to their positions in the company. Elequin Capital LP lifted its position in SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after acquiring an additional 631 shares during the period. Bank of New Hampshire lifted its position in SoFi Technologies by 33.3% during the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after acquiring an additional 1,000 shares during the period. Arkadios Wealth Advisors lifted its position in SoFi Technologies by 1.8% during the 1st quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock worth $737,000 after acquiring an additional 1,092 shares during the period. Signaturefd LLC lifted its position in SoFi Technologies by 6.2% during the 1st quarter. Signaturefd LLC now owns 21,476 shares of the company's stock worth $250,000 after acquiring an additional 1,246 shares during the period. Finally, Trivium Point Advisory LLC lifted its position in SoFi Technologies by 12.1% during the 1st quarter. Trivium Point Advisory LLC now owns 11,653 shares of the company's stock worth $136,000 after acquiring an additional 1,255 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $23.33 on Friday. SoFi Technologies, Inc. has a 1-year low of $6.75 and a 1-year high of $25.11. The company has a market capitalization of $27.94 billion, a P/E ratio of 48.60, a PEG ratio of 2.79 and a beta of 1.93. The business has a 50 day moving average price of $20.10 and a 200 day moving average price of $15.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

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

Analysts Set New Price Targets

A number of research firms have weighed in on SOFI. Needham & Company LLC increased their price objective on SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Barclays increased their target price on SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Morgan Stanley reissued an "underweight" rating and set a $13.00 target price (up from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Stephens began coverage on SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price for the company. Finally, Truist Financial set a $23.00 target price on SoFi Technologies in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $19.35.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president 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 accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 272,239 shares of company stock valued at $4,123,194 in the last ninety days. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.