SoFi Technologies (NASDAQ:SOFI) Shares Acquired Rep. James Comer

Representative James Comer (R-Kentucky) recently bought shares of SoFi Technologies, Inc. (NASDAQ:SOFI). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in SoFi Technologies stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/2/2025.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $14.50 on Wednesday. The stock has a market cap of $15.73 billion, a P/E ratio of 145.01, a P/E/G ratio of 2.70 and a beta of 1.78. The firm’s 50-day simple moving average is $15.08 and its 200 day simple moving average is $10.49. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. Equities analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares of the company’s stock, valued at $2,926,632.75. The trade was a 4.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares during the period. Marshall Wace LLP raised its stake in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies in the third quarter worth $16,014,000. Finally, Hsbc Holdings PLC grew its holdings in shares of SoFi Technologies by 337.6% during the second quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock valued at $4,715,000 after buying an additional 554,866 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SOFI shares. Bank of America restated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. William Blair began coverage on shares of SoFi Technologies in a report on Wednesday. They issued an “outperform” rating for the company. Finally, Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.71.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

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.