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

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 Stock Up 3.1 %

Shares of SoFi Technologies stock opened at $14.50 on Wednesday. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $17.19. The firm has a market cap of $15.73 billion, a price-to-earnings ratio of 145.01, a P/E/G ratio of 2.70 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a 50-day simple moving average of $15.08 and a 200-day simple moving average of $10.49.

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

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its position in SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after acquiring an additional 809 shares during the period. Summit Trail Advisors LLC grew its holdings in SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares during the period. CIBC Asset Management Inc increased its position in shares of SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after acquiring an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC lifted its position in shares of SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock worth $256,000 after purchasing an additional 1,054 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, Jefferies Financial Group boosted their price target 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. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.71.

Insider Buying and Selling at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 over the last quarter. 2.60% of the stock is owned by corporate insiders.

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

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.