Sumitomo Mitsui DS Asset Management Company Ltd Makes New Investment in SoFi Technologies, Inc. $SOFI

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 521,640 shares of the company’s stock, valued at approximately $13,782,000.

A number of other hedge funds have also recently modified their holdings of SOFI. Norges Bank purchased a new position in SoFi Technologies during the second quarter valued at approximately $164,068,000. Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies during the 2nd quarter worth approximately $115,188,000. Marshall Wace LLP increased its holdings in shares of SoFi Technologies by 88.2% during the 2nd quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after purchasing an additional 3,748,817 shares in the last quarter. Mizuho Markets Cayman LP acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at $45,525,000. Finally, ARK Investment Management LLC lifted its stake in shares of SoFi Technologies by 118.5% in the 2nd quarter. ARK Investment Management LLC now owns 4,424,155 shares of the company’s stock valued at $80,564,000 after purchasing an additional 2,399,746 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $27.40 on Friday. The stock has a 50 day moving average of $27.76 and a two-hundred day moving average of $25.61. SoFi Technologies, Inc. has a 12 month low of $8.60 and a 12 month high of $32.73. The firm has a market cap of $33.04 billion, a P/E ratio of 50.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.92. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $880.33 million. During the same quarter last year, the business posted $0.05 earnings per share. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 91,837 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total value of $2,446,537.68. Following the transaction, the chief technology officer directly owned 794,598 shares of the company’s stock, valued at approximately $21,168,090.72. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,468 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $27.14, for a total transaction of $256,961.52. Following the transaction, the executive vice president owned 312,948 shares in the company, valued at $8,493,408.72. The trade was a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 167,813 shares of company stock valued at $4,403,334 in the last 90 days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley raised their price target on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Jefferies Financial Group restated a “buy” rating and set a $35.00 target price on shares of SoFi Technologies in a research report on Tuesday, October 28th. Barclays upped their price target on SoFi Technologies from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday. Needham & Company LLC raised their price objective on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, UBS Group boosted their price objective on SoFi Technologies from $20.50 to $27.50 and gave the company a “neutral” rating in a research report on Thursday, October 30th. One research 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’s stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $25.50.

SoFi Technologies Company 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.