162,400 Shares in SoFi Technologies, Inc. $SOFI Acquired by Kercheville Advisors LLC

Key Points

• Kercheville Advisors LLC acquired 162,400 shares of SoFi Technologies, Inc. valued at approximately $2,957,000, making it the fund's 26th largest holding.
• Institutional investors own 38.43% of SoFi Technologies, with several funds, including USAdvisors Wealth Management LLC and Wedmont Private Capital, increasing their holdings in the second quarter.
• SoFi Technologies reported $0.08 earnings per share for the last quarter, exceeding analysts' expectations, and is expected to post 0.26 EPS for the current fiscal year.

Kercheville Advisors LLC bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 162,400 shares of the company's stock, valued at approximately $2,957,000. SoFi Technologies comprises 1.0% of Kercheville Advisors LLC's holdings, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. USAdvisors Wealth Management LLC grew its holdings in shares of SoFi Technologies by 4.5% in the second quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company's stock worth $295,000 after acquiring an additional 700 shares during the period. Wedmont Private Capital grew its stake in shares of SoFi Technologies by 4.3% during the 2nd quarter. Wedmont Private Capital now owns 21,493 shares of the company's stock valued at $435,000 after purchasing an additional 879 shares during the period. Bank of New Hampshire grew its stake in shares of SoFi Technologies by 33.3% during the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock valued at $47,000 after purchasing an additional 1,000 shares during the period. Vermillion & White Wealth Management Group LLC increased its position in shares of SoFi Technologies by 16.7% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock valued at $81,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Future Financial Wealth Managment LLC lifted its stake in shares of SoFi Technologies by 7.4% in the 2nd quarter. Future Financial Wealth Managment LLC now owns 14,500 shares of the company's stock worth $264,000 after purchasing an additional 1,000 shares during the period. 38.43% of the stock is owned by institutional investors.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 of the company's stock, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,614 shares of company stock worth $3,452,672. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

SOFI has been the subject of several recent research reports. JMP Securities restated a "market perform" rating and set a $17.00 target price on shares of SoFi Technologies in a research report on Monday, July 14th. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Keefe, Bruyette & Woods lifted their target price on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Finally, Stephens started coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and an average price target of $20.18.

SoFi Technologies Price Performance

SOFI stock opened at $25.24 on Friday. SoFi Technologies, Inc. has a 52 week low of $7.90 and a 52 week high of $30.30. The firm has a market capitalization of $30.22 billion, a P/E ratio of 52.58, a price-to-earnings-growth ratio of 3.00 and a beta of 1.92. The company has a fifty day simple moving average of $25.03 and a two-hundred day simple moving average of $18.19. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its 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. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same period in the previous year, the firm posted $0.01 EPS. The business'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. Analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal 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.

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