The Vanguard Group, Inc. recently announced the acquisition of new stake in SoFi Technologies Inc (NASDAQ:SOFI). The institutional investor has increased its shareholding in the Financial company by 3.38% to 75.09 million shares with purchase of 2.46 million shares. This fresh investment now brings its stake to 7.83% valued currently at $547.43 million. In addition, BlackRock Fund Advisors raised its holdings by 2.29 million to 36.98 million shares. And Two Sigma Investments LP has lifted its position by 58.31% or 5.58 million shares – to 15.16 million shares.
With over 39.42 million SoFi Technologies Inc (SOFI) shares trading Friday and a closing price of $8.22 on the day, the dollar volume was approximately $324.0 million. The shares have shown a positive half year performance of 2.11% and its price on 01/05/24 lost nearly -2.38%. Currently, there are 933.90M common shares owned by the public and among those 885.64M shares have been available to trade.
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Insiders at the company have transacted a total of 87 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 6,045,584 shares. Insider sales of the common stock occurred on 40 occasions, with total insider shares sold totaling 3,948,629 shares.
The top 3 mutual fund holders in SoFi Technologies Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 25.26 million shares of the company’s stock, all valued at over $184.18 million. The company bought an additional 32333.0 shares recently to bring their total holdings to about 2.64% of the shares outstanding. Vanguard Small Cap Index Fund bought 93752.0 shares to see its total holdings expand to 20.92 million shares valued at over $152.54 million and representing 2.18% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.25 million shares to bring its total holdings to over 13.57 million shares at a value of $98.9 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.42% of the shares outstanding.
Shares of SoFi Technologies Inc (NASDAQ: SOFI) opened at $8.27, down -$0.15 from a prior closing price of $8.42. However, the script later moved the day high at 8.50, down -2.38%. The company’s stock has a 5-day price change of -20.04% and 7.45% over the past three months. SOFI shares are trading -17.39% year to date (YTD), with the 12-month market performance up to 72.33% higher. It has a 12-month low price of $4.45 and touched a high of $11.70 over the same period. SOFI has an average intraday trading volume of 40.89 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.12%, 2.57%, and 6.97% respectively.
Institutional ownership of SoFi Technologies Inc (NASDAQ: SOFI) shares accounts for 33.91% of the company’s 933.90M shares outstanding. Mutual fund holders own 18.13%, while other institutional holders and individual stakeholders account for 20.96% and 15.70% respectively.
It has a market capitalization of $7.88B and a beta (3y monthly) value of 1.85. The earnings-per-share (ttm) stands at -$0.45. The company has a debt-to-equity ratio at 1.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.28% over the week and 5.28% over the month.
Analysts forecast that SoFi Technologies Inc (SOFI) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0.06 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 2.29%, and 119.29% over the next financial year.
Looking at the support for the SOFI, a number of firms have released research notes about the stock. Keefe Bruyette stated their Underperform rating for the stock in a research note on January 03, 2024, with the firm’s price target at $7.50-$6.50.
