Hsbc Holdings PLC Acquires 4,100 Shares of SoFi Technologies, Inc. $SOFI

Hsbc Holdings PLC raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 31.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,105 shares of the company’s stock after purchasing an additional 4,100 shares during the quarter. Hsbc Holdings PLC’s holdings in SoFi Technologies were worth $197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares in the last quarter. CMG Global Holdings LLC increased its stake in SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company’s stock valued at $1,728,000 after purchasing an additional 61,443 shares in the last quarter. Nicholas Wealth LLC. bought a new stake in SoFi Technologies during the 1st quarter valued at $993,000. Sierra Summit Advisors LLC bought a new stake in SoFi Technologies during the 1st quarter valued at $9,715,000. Finally, NorthRock Partners LLC bought a new stake in SoFi Technologies during the 1st quarter valued at $172,000. Institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer directly owned 724,321 shares of the company’s stock, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the sale, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,099 shares of company stock valued at $2,907,591 over the last three months. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a “hold” rating for the company. Needham & Company LLC upped their target price on shares of SoFi Technologies from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Citizens Jmp lowered shares of SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their target price on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Keefe, Bruyette & Woods upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $19.35.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $25.60 on Friday. The company’s 50-day moving average is $22.27 and its 200 day moving average is $16.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The company has a market capitalization of $30.65 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 3.01 and a beta of 1.93. SoFi Technologies, Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $26.60.

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

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.