Saudi Central Bank Boosts Stake in SoFi Technologies, Inc. $SOFI

Key Points

• Saudi Central Bank increased its SoFi Technologies stake by 91.4% in the second quarter, reaching 89,268 shares valued at approximately $1.6 million. Institutional investors collectively own 38.43% of the company.
• SoFi reported quarterly earnings of $0.12 per share, beating estimates by $0.01, while revenue rose 42.5% year over year to $1.21 billion. The stock opened at $18.01, down 1.2%.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $22.52; recent targets range from $15 to $22. Insiders sold shares during the quarter, including transactions conducted under pre-arranged trading plans.

Saudi Central Bank lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 91.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,268 shares of the company's stock after buying an additional 42,625 shares during the period. Saudi Central Bank's holdings in SoFi Technologies were worth $1,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in shares of SoFi Technologies in the fourth quarter worth $25,000. Vermillion Wealth Management Inc. boosted its position in SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock worth $26,000 after purchasing an additional 739 shares during the last quarter. Reflection Asset Management purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $28,000. Cornerstone Planning Group LLC lifted its stake in shares of SoFi Technologies by 232.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company's stock worth $34,000 after purchasing an additional 1,467 shares during the period. Finally, Compass Financial Management LLC purchased a new position in shares of SoFi Technologies in the second quarter worth approximately $34,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Down 1.2%

SOFI stock opened at $18.01 on Wednesday. The company has a market capitalization of $23.26 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 1.50 and a beta of 2.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. SoFi Technologies, Inc. has a 1-year low of $14.88 and a 1-year high of $32.73. The business has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $17.44.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. SoFi Technologies's quarterly revenue was up 42.5% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Research analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 11,286 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the transaction, the executive vice president directly owned 356,442 shares of the company's stock, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the transaction, the chief technology officer directly owned 895,089 shares of the company's stock, valued at $15,914,682.42. The trade was a 10.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 136,505 shares of company stock valued at $2,418,096 over the last quarter. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SOFI shares. The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Morgan Stanley cut their price target on SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a report on Thursday, July 30th. Truist Financial raised their price objective on SoFi Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Wednesday, August 12th. Loop Capital began coverage on SoFi Technologies in a research note on Tuesday. They set a "hold" rating and a $22.00 price objective for the company. Finally, Piper Sandler initiated coverage on shares of SoFi Technologies in a report on Monday, August 17th. They set an "overweight" rating and a $22.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.52.

About SoFi Technologies

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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