Rep. James Comer Buys SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

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 SOFI opened at $14.50 on Wednesday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $17.19. The stock’s fifty day moving average is $15.08 and its 200-day moving average is $10.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 145.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78.

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

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its stake in shares of SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after acquiring an additional 310,532 shares during the last quarter. Geode Capital Management LLC increased its position in SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of 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 buying an additional 3,593,464 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after buying an additional 87,097 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SOFI. Jefferies Financial Group boosted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. 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. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $11.71.

Check Out Our Latest Report on SoFi Technologies

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % 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. Also, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company’s stock.

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.

About SoFi Technologies

(Get Free Report)

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.

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