QRG Capital Management Inc. Acquires 91,582 Shares of SoFi Technologies, Inc. $SOFI

QRG Capital Management Inc. boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 38.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 328,197 shares of the company’s stock after buying an additional 91,582 shares during the quarter. QRG Capital Management Inc.’s holdings in SoFi Technologies were worth $5,976,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SOFI. Nuveen LLC bought a new stake in SoFi Technologies during the first quarter valued at approximately $47,616,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SoFi Technologies by 58.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company’s stock valued at $50,467,000 after buying an additional 1,598,721 shares during the period. Vanguard Group Inc. grew its position in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after buying an additional 1,130,250 shares during the period. Sierra Summit Advisors LLC bought a new stake in SoFi Technologies during the first quarter valued at approximately $9,715,000. Finally, SG Americas Securities LLC grew its position in SoFi Technologies by 138.3% during the first quarter. SG Americas Securities LLC now owns 156,465 shares of the company’s stock valued at $1,820,000 after buying an additional 565,390 shares during the period. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Down 2.8%

Shares of SOFI opened at $25.24 on Monday. The company’s fifty day moving average is $25.03 and its 200 day moving average is $18.23. SoFi Technologies, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $30.30. The stock has a market capitalization of $30.22 billion, a PE ratio of 52.58, a P/E/G ratio of 3.00 and a beta of 1.92. 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 announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company had revenue of $519.37 million for the quarter, compared to analysts’ expectations of $801.94 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. SoFi Technologies’s quarterly revenue was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction 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 transaction, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,614 shares of company stock worth $3,452,672 in the last quarter. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the subject of several recent research reports. TD Cowen began coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating and a $21.00 target price for the company. Citizens Jmp downgraded shares of SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 14th. Redburn Atlantic raised shares of SoFi Technologies to a “hold” rating in a report on Friday, August 1st. Morgan Stanley lifted their price target on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.18.

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.