Bank of America Corp DE Sells 2,563,015 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Bank of America reduced its SoFi Technologies stake by 19.1%, selling 2.56 million shares and retaining 10.84 million shares valued at approximately $172.2 million.
• Institutional ownership activity was mixed: Vanguard, State Street, Marshall Wace and Morgan Stanley increased their positions, while insiders sold $2.37 million of stock over the quarter, despite CEO Anthony Noto purchasing shares.
• SoFi reported quarterly EPS of $0.12 and revenue of $1.21 billion, beating estimates, but analyst sentiment remains cautious with a consensus “Hold” rating and an average price target of $22.38.

Bank of America Corp DE lowered its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,842,348 shares of the company's stock after selling 2,563,015 shares during the quarter. Bank of America Corp DE owned about 0.85% of SoFi Technologies worth $172,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new position in shares of SoFi Technologies during the fourth quarter valued at about $321,515,000. State Street Corp increased its position in shares of SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company's stock worth $642,019,000 after acquiring an additional 5,708,053 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of SoFi Technologies by 372.9% in the 4th quarter. Marshall Wace LLP now owns 6,650,744 shares of the company's stock worth $174,116,000 after acquiring an additional 5,244,291 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after acquiring an additional 3,900,895 shares during the last quarter. Finally, Morgan Stanley lifted its position in SoFi Technologies by 33.6% in the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock valued at $348,806,000 after acquiring an additional 3,350,258 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,954 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $17.19, for a total value of $188,299.26. Following the completion of the transaction, the executive vice president owned 367,728 shares in the company, valued at $6,321,244.32. This represents a 2.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto bought 15,545 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $16.00 per share, with a total value of $248,720.00. Following the completion of the transaction, the chief executive officer owned 11,946,619 shares in the company, valued at approximately $191,145,904. The trade was a 0.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 135,256 shares of company stock valued at $2,370,822. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SOFI shares. Argus initiated coverage on SoFi Technologies in a research note on Wednesday, April 15th. They set a "hold" rating for the company. Weiss Ratings downgraded SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Mizuho dropped their target price on SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Keefe, Bruyette & Woods cut their target price on SoFi Technologies from $20.00 to $17.00 and set an "underperform" rating on the stock in a research report on Thursday, April 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $18.00 price target on shares of SoFi Technologies in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $22.38.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $18.25 on Thursday. SoFi Technologies, Inc. has a 52 week low of $14.88 and a 52 week high of $32.73. The company's 50 day moving average price is $17.43 and its two-hundred day moving average price is $18.19. The stock has a market cap of $23.41 billion, a P/E ratio of 38.02 and a beta of 2.17. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a return on equity of 6.39% and a net margin of 14.78%.SoFi Technologies's quarterly revenue was up 42.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Trending Headlines about SoFi Technologies

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

• Positive Sentiment: SoFi’s second-quarter performance supports the growth thesis: adjusted net revenue increased roughly 40% year over year, loan originations reached a record, and member and product adoption continued to rise. The company also reported quarterly revenue above expectations and raised its 2026 revenue outlook to approximately $4.75 billion-$4.85 billion. SoFi Q2: The One-Stop Shop Held Through A Funding Freeze
• Positive Sentiment: Analysts and bullish commentators argue that the selloff has created an attractive entry point. They point to SoFi’s approximately 6.1% risk-adjusted loan margin, excess capital that can be redeployed, and long-term return-on-tangible-common-equity potential of 20%-30%, compared with roughly 7% currently. SoFi's Price Has Already Made A Call Its Earnings Haven't
• Positive Sentiment: SoFi expanded its private-market investment offerings with three funds from CAZ Investments and AngelList Asset Management. The products provide exposure to areas including artificial intelligence, fintech, healthcare and defense, potentially increasing engagement and diversifying the company’s financial-services ecosystem. SoFi Expands Access to Private Markets
• Neutral Sentiment: SoFi’s “one-stop shop” model reportedly held up during a funding freeze, reinforcing the argument that its diversified platform can support growth across market conditions. However, the stock’s high beta and elevated valuation leave it sensitive to changes in risk appetite. Why It’s Time to Buy the Dip in SoFi Stock
• Negative Sentiment: Technology Platform revenue rose sequentially but remained down year over year, with Galileo margins deteriorating. Management maintained its EBITDA and earnings guidance despite raising revenue guidance, suggesting that reinvestment may limit near-term profitability. Wall Street also remains cautious after the stock’s substantial decline from its 52-week high. SoFi's Next Rally Depends On One Missing Ingredient

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.

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