Bank of Nova Scotia Takes Position in SoFi Technologies, Inc. $SOFI

Bank of Nova Scotia purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 72,567 shares of the company's stock, valued at approximately $1,301,000.

Other hedge funds have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at about $25,000. Vermillion Wealth Management Inc. raised its stake in shares of SoFi Technologies by 283.1% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock worth $26,000 after acquiring an additional 739 shares in the last quarter. Reflection Asset Management bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $28,000. Raiffeisen Bank International AG purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $34,000. Finally, American Capital Advisory LLC lifted its position in SoFi Technologies by 456.7% during the fourth quarter. American Capital Advisory LLC now owns 1,297 shares of the company's stock valued at $34,000 after acquiring an additional 1,064 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SOFI. Stephens cut their price target on shares of SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Mizuho decreased their price objective on shares of SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Morgan Stanley lowered their target price on shares of SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company cut their price target on shares of SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $22.42.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, EVP Kelli Keough sold 11,286 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the sale, the executive vice president directly owned 356,442 shares in the company, valued at approximately $6,415,956. The trade was a 3.07% 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. Insiders sold 136,505 shares of company stock worth $2,418,096 in the last quarter. Company insiders own 2.50% of the company's stock.

Key Stories Impacting SoFi Technologies

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

• Positive Sentiment: SoFi’s broader fintech strategy is attracting investors, with the company increasingly positioned as an integrated “everything app” spanning lending, deposits, investing and financial technology services. SoFi Technologies Jumps As Fintech Story Expands
• Positive Sentiment: Analysts and investors remain encouraged by steady revenue and earnings growth. SoFi has exceeded or met expectations for 11 consecutive quarters, while its latest results showed revenue growth of 42.5% year over year and EPS above consensus. SoFi: The Everything App Thesis Is Playing Out
• Positive Sentiment: The SoFiUSD stablecoin initiative is moving toward real-world payments, including 24/7 transfers and an initial $300 million liquidity pool. The announcement has linked SOFI to renewed investor interest in stablecoins and digital-asset infrastructure. SoFi Technologies Stablecoin Push
• Positive Sentiment: SOFI recently outperformed the broader financial sector, with technical momentum improving as shares moved back above their 50-day and 200-day trend lines. Sofi Stock Is Trending: A Key Level Just Came Into Play
• Neutral Sentiment: Reported short interest was zero shares, indicating no meaningful short-position data to provide an additional bullish or bearish signal.
• Neutral Sentiment: Analyst sentiment is mixed: the consensus rating is “Hold,” but the average price target of $22.42 remains above recent trading levels. Piper Sandler initiated coverage with an “Overweight” rating and a $22 target.
• Negative Sentiment: Executive Vice President Kelli Keough sold 11,286 shares worth approximately $203,000. The transaction was made under a pre-arranged Rule 10b5-1 plan and represents only a modest reduction in her holdings, limiting its significance but still creating a minor overhang. Kelli Keough Sells SoFi Shares
• Negative Sentiment: Valuation risk remains: SOFI trades at roughly 23 times forward earnings and has a high beta, leaving the stock sensitive to profit-taking, interest-rate expectations and execution risk surrounding new products.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $18.84 on Thursday. SoFi Technologies, Inc. has a 52 week low of $14.88 and a 52 week high of $32.73. The business's 50 day moving average price is $17.81 and its 200 day moving average price is $17.57. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The firm has a market cap of $24.33 billion, a P/E ratio of 39.25 and a beta of 2.17.

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

SoFi Technologies 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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