Palacios Wealth Management LLC Buys New Position in SoFi Technologies, Inc. $SOFI

Key Points

• Palacios Wealth Management LLC acquired 10,700 shares of SoFi Technologies valued at approximately $195,000, signaling confidence in the company's stock.
• Institutional investors now hold 38.43% of SoFi's stock, with funds such as Vanguard Group Inc. and Mitsubishi UFJ Asset Management increasing their holdings significantly.
• SoFi Technologies reported a revenue of $519.37 million for the last quarter, but fell short of analysts' estimates, highlighting a 42.8% year-over-year revenue increase despite missing projections.

Palacios Wealth Management LLC purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,700 shares of the company's stock, valued at approximately $195,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after acquiring an additional 1,130,250 shares during the last quarter. CMG Global Holdings LLC grew its stake in SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after purchasing an additional 61,443 shares during the period. Nicholas Wealth LLC. bought a new stake in SoFi Technologies in the first quarter worth approximately $993,000. Quantitative Investment Management LLC acquired a new position in SoFi Technologies in the first quarter valued at approximately $2,862,000. Finally, Sierra Summit Advisors LLC bought a new position in shares of SoFi Technologies during the 1st quarter worth approximately $9,715,000. 38.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on SOFI shares. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Citigroup upped their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Finally, Mizuho boosted their target price on SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average target price of $19.88.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction 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 owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,614 shares of company stock worth $3,452,672. Company insiders own 2.60% of the company's stock.

SoFi Technologies Trading Down 1.7%

Shares of NASDAQ SOFI traded down $0.51 during mid-day trading on Tuesday, hitting $29.30. The stock had a trading volume of 38,499,505 shares, compared to its average volume of 61,339,781. 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 firm has a market cap of $35.08 billion, a P/E ratio of 60.78, a price-to-earnings-growth ratio of 3.51 and a beta of 1.93. SoFi Technologies, Inc. has a 1 year low of $7.57 and a 1 year high of $30.30. The business has a 50 day moving average price of $23.99 and a two-hundred day moving average price of $17.27.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) 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 company had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. During the same period in the prior year, the firm earned $0.01 earnings per share. SoFi Technologies's 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. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

SoFi Technologies 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.