Banco Bilbao Vizcaya Argentaria S.A. Takes $1.12 Million Position in SoFi Technologies, Inc. $SOFI

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in SoFi Technologies worth approximately $1.12 million, purchasing 96,972 shares in the 1st quarter.
• SoFi Technologies' stock has seen price target increases from various brokerages, with Barclays setting a new target of $21.00 and Needham & Company raising theirs to $25.00, indicating positive analyst sentiment.
• SoFi reported quarterly earnings of $0.08 per share, surpassing estimates, and experienced a 42.8% year-over-year increase in revenue, totaling $519.37 million.

Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 96,972 shares of the company's stock, valued at approximately $1,115,000.

A number of other institutional investors have also recently bought and sold shares of SOFI. Hazlett Burt & Watson Inc. boosted its position in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new stake in SoFi Technologies during the 1st quarter worth about $28,000. Garde Capital Inc. acquired a new stake in SoFi Technologies during the 1st quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies during the 4th quarter worth about $32,000. Finally, Larson Financial Group LLC boosted its position in SoFi Technologies by 127.1% during the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after acquiring an additional 1,519 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SOFI. Barclays raised their price objective on SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Needham & Company LLC raised their price objective on SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods raised their price target on SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Truist Financial set a $23.00 price target on SoFi Technologies in a research note on Monday, August 4th. Finally, JMP Securities reissued a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have given 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 an average price target of $19.35.

SoFi Technologies Trading Up 7.2%

Shares of NASDAQ SOFI opened at $25.02 on Friday. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 2.89 and a beta of 1.93. The business has a 50 day simple moving average of $20.32 and a 200 day simple moving average of $15.54. SoFi Technologies, Inc. has a 52 week low of $6.75 and a 52 week high of $25.25. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same period last year, the business earned $0.01 EPS. The firm's revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the transaction, the executive vice president directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,239 shares of company stock valued at $4,123,194. Corporate insiders own 2.60% of the company's stock.

About SoFi Technologies

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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