Evolve Private Wealth LLC Acquires New Position in SoFi Technologies, Inc. $SOFI

Key Points

• Evolve Private Wealth acquired 40,503 SoFi shares worth approximately $726,000 during the second quarter. Institutional investors own 38.43% of the company, with major new or expanded positions from BlackRock, Norges Bank, State Street and Marshall Wace.
• SoFi reported strong quarterly results, including $0.12 EPS versus $0.11 expected and $1.21 billion in revenue, up 42.5% year over year. The company maintained fiscal 2026 EPS guidance of $0.60.
• Analyst sentiment remains mixed: eight analysts rate the stock a Buy, ten a Hold and three a Sell, producing a consensus rating of Hold and an average price target of $22.42 versus a recent price of $18.24.

Evolve Private Wealth LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,503 shares of the company's stock, valued at approximately $726,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of SoFi Technologies in the second quarter valued at $1,298,925,000. Norges Bank purchased a new position in SoFi Technologies during the fourth quarter worth about $321,515,000. State Street Corp lifted its position in 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 buying an additional 5,708,053 shares during the period. Marshall Wace LLP boosted its stake in 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 buying an additional 5,244,291 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in SoFi Technologies in the 2nd quarter worth about $93,937,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer directly 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. Insiders sold 136,505 shares of company stock worth $2,418,096 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $18.24 on Tuesday. SoFi Technologies, Inc. has a 52-week low of $14.88 and a 52-week high of $32.73. The firm has a fifty day moving average of $17.75 and a 200-day moving average of $17.59. The firm has a market capitalization of $23.56 billion, a P/E ratio of 38.00 and a beta of 2.17. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating 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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm posted $0.08 EPS. The business'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. As a group, analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SOFI. Citigroup dropped their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, May 4th. Weiss Ratings upgraded shares of SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $18.00 price objective on shares of SoFi Technologies in a report on Thursday, April 30th. Needham & Company LLC cut their target price on SoFi Technologies from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Finally, Stephens reduced their target price on SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.42.

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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