Allstate Corp Acquires 48,283 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Allstate Corp increased its SoFi Technologies stake by 117.3% in the fourth quarter, adding 48,283 shares and bringing its total holding to 89,452 shares worth about $2.34 million.
• Insider activity was mixed: CTO Jeremy Rishel sold 94,958 shares, while CEO Anthony Noto bought 28,900 shares, a move that may signal management confidence in the stock.
• SoFi has been in the spotlight for launching SoFiUSD, a stablecoin issued by its national bank unit, while analysts remain divided overall with a consensus rating of Hold and an average price target of $22.56.

Allstate Corp raised its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 117.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,452 shares of the company's stock after purchasing an additional 48,283 shares during the period. Allstate Corp's holdings in SoFi Technologies were worth $2,342,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Valley Wealth Managers Inc. bought a new stake in shares of SoFi Technologies during the 4th quarter valued at $25,000. Blue Trust Inc. boosted its position in shares of SoFi Technologies by 655.2% during the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock worth $26,000 after acquiring an additional 878 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $29,000. Finally, Quaker Wealth Management LLC boosted its position in shares of SoFi Technologies by 2,745.2% during the 4th quarter. Quaker Wealth Management LLC now owns 1,195 shares of the company's stock worth $31,000 after acquiring an additional 1,153 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 94,958 shares of the firm's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the completion of the transaction, the chief technology officer directly owned 839,640 shares in the company, valued at $14,634,925.20. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Noto acquired 28,900 shares of the stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $17.32 per share, with a total value of $500,548.00. Following the completion of the transaction, the chief executive officer directly owned 11,704,352 shares of the company's stock, valued at $202,719,376.64. The trade was a 0.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 124,479 shares of company stock worth $2,163,556 over the last ninety days. 2.60% of the stock is owned by insiders.

SoFi Technologies News Roundup

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: SoFi launched SoFiUSD, a U.S. dollar stablecoin issued by its national bank unit, and made it available directly in the SoFi app to nearly 15 million members. SoFiUSD Becomes the First Stablecoin Issued by a US National Bank to Launch on a Banking Platform
• Positive Sentiment: The stablecoin rollout is being viewed as a strategic fintech expansion that could support higher user activity, more deposits, and future monetization through tokenized banking and transfers. SoFiUSD Stablecoin Puts Tokenized Banking And Fees In Investor Focus
• Positive Sentiment: Reports that CEO Anthony Noto has been buying SoFi shares on multiple occasions this year are reinforcing investor confidence, since insider buying is often seen as a sign management believes the stock is undervalued. SoFi CEO Anthony Noto Has Bought the Dip 3 Times This Year. Should You?
• Positive Sentiment: Analysts and market commentary are highlighting SoFi’s scaling tech-platform business and revenue growth potential as a longer-term upside driver for the stock. SoFi's Tech Platform Revenue Is the Quiet Story Behind the Stock
• Neutral Sentiment: Some recent articles are speculative or opinion-based, including a 2030 stock-price prediction and comparisons with other fintech names, which may add attention but do not materially change fundamentals. Prediction: This Will Be SoFi's Stock Price in 2030
• Neutral Sentiment: Data points on short interest and broader debit-spend trends are unlikely to move the stock on their own, but they add context around trading sentiment and consumer activity. The Spring Surge: New Galileo Debit Spend Index Charts Q1 Spend and the Year Ahead

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citizens Jmp upgraded shares of SoFi Technologies from a "market perform" rating to an "outperform" rating and set a $30.00 price target on the stock in a research report on Monday, February 9th. Stephens dropped their price objective on SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. upgraded SoFi Technologies from a "neutral" rating to an "overweight" rating and set a $31.00 price objective for the company in a research report on Tuesday, February 3rd. Argus initiated coverage on SoFi Technologies in a research report on Wednesday, April 15th. They set a "hold" rating for the company. Finally, UBS Group dropped their price objective on SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $22.56.

SoFi Technologies Price Performance

SOFI stock opened at $16.97 on Friday. The company has a fifty day moving average price of $16.67 and a 200-day moving average price of $21.67. The company has a market capitalization of $21.77 billion, a P/E ratio of 38.57 and a beta of 2.12. SoFi Technologies, Inc. has a 52-week low of $12.86 and a 52-week high of $32.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The company's revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

SoFi Technologies Company Profile

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.

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