Saudi Central Bank Purchases 42,625 Shares of SoFi Technologies, Inc. $SOFI

Saudi Central Bank lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 91.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 89,268 shares of the company’s stock after purchasing an additional 42,625 shares during the quarter. Saudi Central Bank’s holdings in SoFi Technologies were worth $1,601,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in SoFi Technologies in the fourth quarter valued at approximately $25,000. Vermillion Wealth Management Inc. grew its stake in shares of SoFi Technologies by 283.1% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after acquiring an additional 739 shares during the last quarter. Reflection Asset Management acquired a new stake in SoFi Technologies in the 4th quarter worth approximately $28,000. Raiffeisen Bank International AG acquired a new position in SoFi Technologies during the 4th quarter valued at approximately $34,000. Finally, SHP Wealth Management acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $36,000. Institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SOFI shares. Wells Fargo & Company reduced their price objective on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Loop Capital began coverage on shares of SoFi Technologies in a report on Tuesday. They issued a “hold” rating and a $22.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Truist Financial increased their price target on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Finally, Mizuho lowered their target price on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $22.52.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $18.01 on Wednesday. The firm has a market cap of $23.26 billion, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 1.50 and a beta of 2.20. The stock has a 50 day moving average of $17.89 and a two-hundred day moving average of $17.44. SoFi Technologies, Inc. has a 12 month low of $14.88 and a 12 month high of $32.73. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30.

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

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares of the company’s stock, valued at $6,415,956. This represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the transaction, the chief technology officer owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders sold 136,505 shares of company stock valued at $2,418,096. 2.50% of the stock is owned by company insiders.

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.