Y Intercept Hong Kong Ltd Makes New $21.12 Million Investment in SoFi Technologies, Inc. $SOFI

Key Points

• Y Intercept Hong Kong Ltd has made a new investment of approximately $21.12 million in SoFi Technologies, Inc. (NASDAQ:SOFI), acquiring 1,160,036 shares which now constitutes 0.5% of its portfolio.
• Recent transactions include insiders selling a total of 129,383 shares in SoFi Technologies over the past ninety days, indicating a slight decrease in their ownership stakes.
• SoFi Technologies recently reported earnings per share of $0.08, surpassing analyst estimates, though revenue of $519.37 million fell short of the expected $801.94 million, reflecting a year-over-year revenue increase of 42.8%.

Y Intercept Hong Kong Ltd bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,160,036 shares of the company's stock, valued at approximately $21,124,000. SoFi Technologies accounts for approximately 0.5% of Y Intercept Hong Kong Ltd's portfolio, making the stock its 11th largest position. Y Intercept Hong Kong Ltd owned about 0.10% of SoFi Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its stake in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. Larson Financial Group LLC grew its stake in SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after acquiring an additional 1,519 shares during the period. Finally, MCF Advisors LLC grew its stake in SoFi Technologies by 119.3% in the 1st quarter. MCF Advisors LLC now owns 3,072 shares of the company's stock worth $36,000 after acquiring an additional 1,671 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,036 shares of the company's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $28.33, for a total transaction of $284,319.88. Following the completion of the sale, the executive vice president directly owned 275,374 shares of the company's stock, valued at approximately $7,801,345.42. This represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the sale, the chief technology officer directly owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,383 shares of company stock valued at $3,513,171. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Stock Up 3.3%

Shares of SoFi Technologies stock opened at $29.01 on Monday. The company has a fifty day moving average price of $26.63 and a 200 day moving average price of $19.92. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month high of $30.30. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of 60.44, a price-to-earnings-growth ratio of 3.42 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. During the same period in the prior year, the company earned $0.01 EPS. The firm's 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. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating and a $21.00 target price for the company. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They set a "neutral" rating and a $20.50 price objective for the company. Citigroup boosted their price objective on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a research note on Monday, September 29th. Finally, Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and a consensus target price of $21.18.

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.

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