SoFi Technologies, Inc. $SOFI Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 62.4% during the third quarter, HoldingsChannel.com reports. The firm owned 54,664 shares of the company’s stock after selling 90,789 shares during the period. Candriam S.C.A.’s holdings in SoFi Technologies were worth $862,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of SoFi Technologies during the 2nd quarter worth about $1,298,925,000. Bank of America Corp DE acquired a new stake in shares of SoFi Technologies in the second quarter valued at about $163,808,000. Dimensional Fund Advisors LP raised its holdings in SoFi Technologies by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock worth $144,539,000 after acquiring an additional 359,785 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SoFi Technologies during the second quarter worth about $93,937,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in SoFi Technologies by 4.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,925,068 shares of the company’s stock worth $88,306,000 after acquiring an additional 198,336 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $24.00 price target on shares of SoFi Technologies in a research note on Wednesday, October 28th. Piper Sandler assumed coverage on SoFi Technologies in a report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price objective for the company. Morgan Stanley decreased their target price on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Finally, Mizuho lowered their target price on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $21.27.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $16.27 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.74 and a quick ratio of 0.10. SoFi Technologies, Inc. has a one year low of $13.86 and a one year high of $32.73. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.02 and a beta of 2.25. The firm has a 50 day simple moving average of $16.28 and a 200 day simple moving average of $17.51.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 27th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.25 billion. SoFi Technologies had a net margin of 15.60% and a return on equity of 6.81%. The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. Research analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

SoFi Technologies News Summary

These are some of the SOFI news items that stood out recently:

• Positive Sentiment: ARK made a reported $6.8 million investment in SoFi, a vote of confidence that could support investor sentiment. Cathie Wood sees something in SoFi. Here’s why ARK made a $6.8 million bet
• Neutral Sentiment: SoFi’s variable 4.40% tokenized-deposit offer could attract customers and deposits, but the benefit depends on growing balances without undermining profitability. SoFi’s 4.40% Deposit Offer Could Be a Smart Move. Here’s the Risk.
• Neutral Sentiment: An article highlights record profits and an ambitious 2027 outlook, while pointing to customer monetization as a key test: converting free or low-revenue products into more profitable relationships. SoFi’s Record Profits Hide 1 Number That Could Decide Its 2027 Growth

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 18,624 shares of SoFi Technologies stock in a transaction on Monday, September 21st. The shares were sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the sale, the chief technology officer directly owned 912,650 shares of the company’s stock, valued at approximately $15,971,375. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 11,286 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the sale, the executive vice president directly owned 356,442 shares of the company’s stock, valued at $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 50,316 shares of company stock worth $852,605 over the last 90 days. Company insiders own 2.50% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc. is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings. Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.