Meridian Wealth Management LLC Acquires 33,817 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Meridian Wealth Management increased its SoFi stake by 34.4% in the fourth quarter, adding 33,817 shares to bring its total holdings to 132,084 shares worth about $3.46 million.
• SoFi’s latest quarterly results showed continued growth, with revenue up 42.6% year over year to $1.09 billion and earnings per share matching Wall Street expectations at $0.12.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating and average target price of $22.56, while recent reports included both target cuts and upgrades, reflecting uncertainty around near-term growth.

Meridian Wealth Management LLC raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 34.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,084 shares of the company's stock after purchasing an additional 33,817 shares during the quarter. Meridian Wealth Management LLC's holdings in SoFi Technologies were worth $3,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in SoFi Technologies by 6.8% during the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company's stock valued at $2,829,640,000 after purchasing an additional 6,814,727 shares during the last quarter. Firsthand Capital Management Inc. lifted its holdings in shares of SoFi Technologies by 60.0% in the 3rd quarter. Firsthand Capital Management Inc. now owns 80,000 shares of the company's stock worth $2,114,000 after acquiring an additional 30,000 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of SoFi Technologies by 161.6% in the 4th quarter. SG Americas Securities LLC now owns 902,392 shares of the company's stock worth $23,625,000 after acquiring an additional 557,390 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of SoFi Technologies by 212.2% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 40,140 shares of the company's stock worth $1,060,000 after acquiring an additional 27,283 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of SoFi Technologies by 15.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 458,703 shares of the company's stock worth $12,835,000 after acquiring an additional 60,676 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Down 2.2%

Shares of SOFI opened at $15.90 on Wednesday. SoFi Technologies, Inc. has a 1-year low of $12.74 and a 1-year high of $32.73. The company has a 50-day moving average of $17.27 and a 200 day moving average of $22.83. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 36.14 and a beta of 2.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.18.

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 net margin of 14.65% and a return on equity of 6.25%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $0.06 EPS. The firm'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. On average, research analysts expect that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. Argus assumed coverage on shares of SoFi Technologies in a report on Wednesday, April 15th. They issued a "hold" rating for the company. Citigroup lowered their target price on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 4th. Needham & Company LLC lowered their target price on shares of SoFi Technologies from $33.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Finally, Citizens Jmp upgraded shares of SoFi Technologies from a "market perform" rating to an "outperform" rating and set a $30.00 target price for the company in a report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $22.56.

Key Headlines Impacting SoFi Technologies

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

• Positive Sentiment: CEO Anthony Noto bought 15,545 shares at about $16.00 each, a signal of insider confidence that can support investor sentiment. SoFi Technologies NASDAQ: SOFI CEO Anthony Noto Buys 15,545 Shares
• Positive Sentiment: Reports say SoFi acquired most of PrimaryBid, expanding its capital markets capabilities and potentially adding new growth avenues in fintech and retail investing. SoFi Acquires Capital Markets Partner PrimaryBid
• Positive Sentiment: SoFi’s latest quarter showed strong fundamentals, with revenue up 42.6% year over year to $1.09 billion and EPS matching expectations, reinforcing the company’s growth story. Here's What I Think Is Really Going On With SoFi Stock
• Neutral Sentiment: SoFi’s head of investment strategy, Liz Thomas, warned investors to look beyond the surface strength in the broader market, a comment that does not directly change the company’s outlook but reflects a cautious stance. SoFi's Liz Thomas has a message for stock market investors
• Negative Sentiment: Truist cut its price target on SoFi to $17 from $20 and kept a Hold rating, citing slower loan platform assumptions and softer expectations for technology revenue. Truist Cuts SoFi Price Target to $17: Loan Platform Slowdown Pressures the Bull Case

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 94,958 shares of SoFi Technologies stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the completion of the sale, the chief technology officer owned 839,640 shares in the company, valued at $14,634,925.20. This trade represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony Noto bought 15,545 shares of the business's stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $248,720.00. Following the transaction, the chief executive officer directly owned 11,946,619 shares in the company, valued at approximately $191,145,904. This trade represents a 0.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 124,197 shares of company stock worth $2,191,758 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

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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