Sumitomo Mitsui Trust Group Inc. Raises Stock Position in SoFi Technologies, Inc. $SOFI

Sumitomo Mitsui Trust Group Inc. increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,689,426 shares of the company’s stock after acquiring an additional 156,218 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in SoFi Technologies were worth $90,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new position in shares of SoFi Technologies during the 4th quarter valued at $25,000. Blue Trust Inc. increased its holdings in shares of SoFi Technologies by 655.2% in the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after purchasing an additional 878 shares during the period. Vermillion Wealth Management Inc. raised its position in shares of SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after buying an additional 739 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of SoFi Technologies in the fourth quarter worth $28,000. Finally, Reflection Asset Management bought a new stake in SoFi Technologies during the fourth quarter valued at $28,000. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Price Performance

NASDAQ:SOFI traded up $0.16 during midday trading on Friday, hitting $18.78. The company had a trading volume of 91,469,685 shares, compared to its average volume of 76,696,920. The company has a market capitalization of $24.09 billion, a PE ratio of 42.68 and a beta of 2.14. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. SoFi Technologies, Inc. has a 52-week low of $14.92 and a 52-week high of $32.73. The stock’s fifty day moving average price is $16.92 and its 200-day moving average price is $19.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto acquired 15,545 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares in the company, valued at approximately $191,145,904. This represents a 0.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 134,044 shares of company stock valued at $2,370,056. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SOFI. Citigroup reduced their target price on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 4th. TD Cowen dropped their price target on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Barclays cut their price objective on SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Weiss Ratings cut shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, Mizuho set a $29.00 target price on shares of SoFi Technologies in a research note on Wednesday, May 6th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.78.

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.