Consolidated Investment Group LLC Buys 50,000 Shares of SoFi Technologies, Inc. $SOFI

Consolidated Investment Group LLC lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 33.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,085 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Consolidated Investment Group LLC’s holdings in SoFi Technologies were worth $3,662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new position in shares of SoFi Technologies in the second quarter worth about $108,000. River Street Advisors LLC grew its holdings in shares of SoFi Technologies by 14.6% in the second quarter. River Street Advisors LLC now owns 77,032 shares of the company’s stock worth $1,403,000 after purchasing an additional 9,830 shares during the last quarter. Sullivan Wood Capital Management LLC bought a new position in shares of SoFi Technologies in the second quarter worth about $2,799,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of SoFi Technologies in the second quarter worth about $306,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in SoFi Technologies in the second quarter worth about $228,000. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SOFI. Keefe, Bruyette & Woods upped their price objective on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 5th. Citigroup upped their price objective on shares of SoFi Technologies from $18.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Cowen began coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a research note on Saturday, September 27th. Finally, TD Cowen began coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating and a $21.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.18.

SoFi Technologies Stock Performance

SOFI stock opened at $25.24 on Friday. The firm has a market cap of $30.22 billion, a price-to-earnings ratio of 52.58, a PEG ratio of 3.09 and a beta of 1.92. The firm has a 50-day simple moving average of $25.03 and a two-hundred day simple moving average of $18.15. SoFi Technologies, Inc. has a one year low of $7.90 and a one year high of $30.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the transaction, the executive vice president directly owned 234,622 shares of the company’s stock, valued at $5,192,184.86. This trade represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 129,614 shares of company stock valued at $3,452,672 over the last ninety days. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.