SoFi Technologies, Inc. $SOFI Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 47.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,004 shares of the company’s stock after selling 154,193 shares during the quarter. QRG Capital Management Inc.’s holdings in SoFi Technologies were worth $4,597,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at about $164,068,000. Quadrature Capital Ltd bought a new position in SoFi Technologies in the second quarter worth about $115,188,000. Marshall Wace LLP lifted its holdings in SoFi Technologies by 88.2% in the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after acquiring an additional 3,748,817 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in SoFi Technologies by 87.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,361,809 shares of the company’s stock valued at $168,079,000 after acquiring an additional 2,961,849 shares during the period. Finally, Mizuho Markets Cayman LP bought a new position in shares of SoFi Technologies during the second quarter valued at approximately $45,525,000. Institutional investors own 38.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SOFI shares. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Needham & Company LLC increased their target price on SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. 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. UBS Group upped their price target on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Bank of America began coverage on shares of SoFi Technologies in a research report on Tuesday, January 6th. They issued an “underperform” rating and a $20.50 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.50.

Insider Activity

In related news, EVP Kelli Keough sold 10,340 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $26.43, for a total transaction of $273,286.20. Following the transaction, the executive vice president owned 265,034 shares in the company, valued at $7,004,848.62. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 157,777 shares of company stock worth $4,119,014 over the last three months. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI opened at $26.13 on Monday. SoFi Technologies, Inc. has a one year low of $8.60 and a one year high of $32.73. The stock’s fifty day moving average is $27.51 and its 200-day moving average is $25.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.92.

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

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.