Quantum Portfolio Management LLC Purchases Shares of 66,651 SoFi Technologies, Inc. $SOFI

Quantum Portfolio Management LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 66,651 shares of the company’s stock, valued at approximately $1,761,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 100,287,485 shares of the company’s stock worth $1,826,235,000 after buying an additional 820,190 shares during the period. Norges Bank bought a new stake in SoFi Technologies during the 2nd quarter valued at approximately $164,068,000. Marshall Wace LLP lifted its holdings in SoFi Technologies by 88.2% in the 2nd quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after purchasing an additional 3,748,817 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SoFi Technologies by 2.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,628,309 shares of the company’s stock worth $120,702,000 after purchasing an additional 155,583 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in SoFi Technologies by 87.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,361,809 shares of the company’s stock worth $168,079,000 after purchasing an additional 2,961,849 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SOFI. Mizuho set a $38.00 target price on shares of SoFi Technologies in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. BTIG Research reiterated a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. Jefferies Financial Group restated a “buy” rating and set a $35.00 price target on shares of SoFi Technologies in a report on Tuesday, October 28th. Finally, Barclays upped their price objective on SoFi Technologies from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.50.

SoFi Technologies Stock Down 1.2%

NASDAQ SOFI opened at $26.13 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. SoFi Technologies, Inc. has a 52 week low of $8.60 and a 52 week high of $32.73. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.63 and a beta of 1.92. The company has a fifty day moving average of $27.51 and a two-hundred day moving average of $25.99.

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

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 91,837 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total value of $2,446,537.68. Following the sale, the chief technology officer owned 794,598 shares in the company, valued at $21,168,090.72. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 10,340 shares of SoFi Technologies stock in a transaction on 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 owned 265,034 shares of the company’s stock, valued at approximately $7,004,848.62. This trade represents a 3.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 157,777 shares of company stock valued at $4,119,014. 2.60% of the stock is currently owned by insiders.

About SoFi Technologies

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.