Sumitomo Mitsui Trust Group Inc. Acquires 2,961,849 Shares of SoFi Technologies, Inc. $SOFI

Sumitomo Mitsui Trust Group Inc. grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 87.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,361,809 shares of the company’s stock after purchasing an additional 2,961,849 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.53% of SoFi Technologies worth $168,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC increased its stake in SoFi Technologies by 3.1% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock worth $373,000 after buying an additional 419 shares during the period. Cigna Investments Inc. New grew its stake in SoFi Technologies by 4.2% in the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock worth $291,000 after acquiring an additional 446 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its position in shares of SoFi Technologies by 46.9% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company’s stock worth $39,000 after acquiring an additional 469 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of SoFi Technologies by 1.8% during the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company’s stock valued at $518,000 after acquiring an additional 501 shares in the last quarter. Finally, AE Wealth Management LLC boosted its holdings in shares of SoFi Technologies by 2.8% in the second quarter. AE Wealth Management LLC now owns 18,620 shares of the company’s stock valued at $339,000 after purchasing an additional 514 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SoFi Technologies

In related news, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the transaction, the insider directly owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 10,340 shares of SoFi Technologies stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $26.43, for a total value of $273,286.20. Following the sale, the executive vice president directly owned 265,034 shares of the company’s stock, valued at approximately $7,004,848.62. This represents a 3.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 167,813 shares of company stock valued at $4,403,334 in the last ninety days. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 2.9%

SoFi Technologies stock opened at $26.60 on Tuesday. The stock has a 50-day moving average of $27.68 and a two-hundred day moving average of $25.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. SoFi Technologies, Inc. has a one year low of $8.60 and a one year high of $32.73. The stock has a market cap of $32.08 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. During the same quarter last year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the topic of several research reports. Truist Financial reduced their price objective on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, November 25th. Mizuho set a $38.00 price target on SoFi Technologies in a research note on Thursday, October 30th. Morgan Stanley lifted their price objective on SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, September 29th. UBS Group increased their target price on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Barclays boosted their price target on shares of SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus price target of $25.50.

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.