State of Wyoming Makes New Investment in SoFi Technologies, Inc. $SOFI

Key Points

• The State of Wyoming acquired a new stake in SoFi Technologies, purchasing 13,303 shares valued at approximately $155,000 in the first quarter.
• Insiders at SoFi Technologies have recently sold significant amounts of stock, with EVP Kelli Keough selling 10,578 shares and Director Magdalena Yesil selling 87,140 shares, representing notable decreases in their holdings.
• SoFi Technologies' stock has shown a healthy performance, currently priced at $25.60, with a 52-week range of $6.75 to $26.60 and a strong revenue growth of 42.8% compared to the previous year.

State of Wyoming purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,303 shares of the company's stock, valued at approximately $155,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. CMG Global Holdings LLC boosted its holdings in shares of SoFi Technologies by 77.8% in the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after acquiring an additional 61,443 shares during the last quarter. Nicholas Wealth LLC. purchased a new stake in shares of SoFi Technologies in the 1st quarter valued at $993,000. Quantitative Investment Management LLC purchased a new stake in shares of SoFi Technologies in the 1st quarter valued at $2,862,000. Finally, Sierra Summit Advisors LLC purchased a new stake in shares of SoFi Technologies in the 1st quarter valued at $9,715,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

NASDAQ:SOFI traded down $0.22 during trading hours on Tuesday, reaching $25.74. 14,571,907 shares of the company were exchanged, compared to its average volume of 61,001,820. The stock's 50-day moving average is $22.43 and its 200-day moving average is $16.31. The firm has a market cap of $30.82 billion, a PE ratio of 53.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a twelve month low of $6.75 and a twelve month high of $26.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company's quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,959 shares of company stock valued at $1,653,646 over the last quarter. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SOFI shares. Stephens started coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Truist Financial set a $23.00 price target on shares of SoFi Technologies in a report on Monday, August 4th. Citigroup increased their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a report on Monday, July 14th. They set a "neutral" rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.35.

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.