Sumitomo Mitsui Trust Group Inc. Increases Stake in SoFi Technologies, Inc. $SOFI

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 29.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,399,960 shares of the company’s stock after buying an additional 773,308 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in SoFi Technologies were worth $61,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its holdings in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after buying an additional 2,200 shares in the last quarter. Headlands Technologies LLC purchased a new stake in SoFi Technologies during the 1st quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies during the 1st quarter valued at approximately $28,000. Larson Financial Group LLC grew its holdings in SoFi Technologies by 127.1% during the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock valued at $32,000 after buying an additional 1,519 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in SoFi Technologies by 119.3% during the 1st quarter. MCF Advisors LLC now owns 3,072 shares of the company’s stock valued at $36,000 after buying an additional 1,671 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

SOFI stock opened at $29.01 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The business has a 50-day moving average price of $26.63 and a 200 day moving average price of $19.92. The company has a market capitalization of $34.74 billion, a P/E ratio of 60.44, a PEG ratio of 3.42 and a beta of 1.92. SoFi Technologies, Inc. has a 1-year low of $8.60 and a 1-year high of $30.30.

SoFi Technologies (NASDAQ:SOFI) 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. The firm 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 firm’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 10,578 shares of the business’s stock in a transaction dated 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 owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the business’s 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 sale, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,383 shares of company stock valued at $3,513,171 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a research report on Saturday. Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods increased their target price on SoFi Technologies from $14.00 to $18.00 and gave the company an “underperform” rating in a research report on Wednesday, October 15th. Barclays increased their target price on SoFi Technologies from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $21.18.

About SoFi Technologies

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.