Diversify Wealth Management LLC Boosts Stock Holdings in SoFi Technologies, Inc. $SOFI

Key Points

• Diversify Wealth Management LLC dramatically increased its SoFi stake in the first quarter, lifting holdings by 5,982.7% to 1,043,372 shares worth about $16.2 million.
• SoFi reported Q1 earnings of $0.12 per share, matching estimates, while revenue came in at $1.09 billion, above expectations and up 42.6% year over year.
• Analyst sentiment remains mixed: the stock carries a “Hold” consensus with an average target price of $22.78, though several firms have recently adjusted targets and ratings.

Diversify Wealth Management LLC lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 5,982.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,043,372 shares of the company's stock after purchasing an additional 1,026,219 shares during the period. Diversify Wealth Management LLC owned about 0.08% of SoFi Technologies worth $16,198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after buying an additional 3,900,895 shares during the period. State Street Corp raised its position in shares of SoFi Technologies by 6.7% in the 4th quarter. State Street Corp now owns 25,937,928 shares of the company's stock worth $679,055,000 after acquiring an additional 1,637,430 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SoFi Technologies by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock worth $618,395,000 after purchasing an additional 1,951,248 shares during the last quarter. Morgan Stanley lifted its stake in shares of SoFi Technologies by 33.6% during the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock worth $348,806,000 after purchasing an additional 3,350,258 shares during the last quarter. Finally, Norges Bank bought a new stake in SoFi Technologies during the fourth quarter valued at about $321,515,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

SOFI stock traded up $0.16 during midday trading on Friday, reaching $18.78. The stock had a trading volume of 91,469,685 shares, compared to its average volume of 76,696,920. The firm has a fifty day simple moving average of $16.92 and a two-hundred day simple moving average of $19.49. SoFi Technologies, Inc. has a 52-week low of $14.92 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. The stock has a market cap of $24.09 billion, a PE ratio of 42.68 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting analysts' consensus estimates of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The company's revenue 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 research analysts anticipate that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on SOFI. Mizuho set a $29.00 price target on shares of SoFi Technologies in a research report on Wednesday, May 6th. Wells Fargo & Company reduced their price objective on shares of SoFi Technologies from $19.00 to $18.00 and set an "equal weight" rating for the company in a research note on Thursday, April 9th. Argus initiated coverage on shares of SoFi Technologies in a research report on Wednesday, April 15th. They set a "hold" rating for the company. Barclays lowered their target price on shares of SoFi Technologies from $28.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Finally, Citigroup cut their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $22.78.

Insiders Place Their Bets

In related news, CEO Anthony Noto purchased 15,545 shares of the business's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $16.00 per share, with a total value of $248,720.00. Following the transaction, the chief executive officer owned 11,946,619 shares of the company's stock, valued at approximately $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction dated 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 transaction, the chief technology officer owned 895,089 shares of the company's stock, valued at $15,914,682.42. The trade was a 10.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 134,044 shares of company stock valued at $2,370,056. 2.50% of the stock is owned by insiders.

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.

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