Norges Bank Invests $321.52 Million in SoFi Technologies, Inc. $SOFI

Norges Bank bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,280,945 shares of the company's stock, valued at approximately $321,515,000. Norges Bank owned 1.02% of SoFi Technologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SOFI. Brighton Jones LLC grew its position in shares of SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after buying an additional 14,281 shares during the period. Caxton Associates LLP purchased a new stake in shares of SoFi Technologies in the 1st quarter worth about $129,000. Empowered Funds LLC grew its position in shares of SoFi Technologies by 5.2% in the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company's stock worth $385,000 after buying an additional 1,631 shares during the period. Franklin Resources Inc. grew its position in shares of SoFi Technologies by 23.2% in the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company's stock worth $251,000 after buying an additional 2,596 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in SoFi Technologies in the 2nd quarter worth about $4,633,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies News Roundup

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

• Positive Sentiment: SoFi appointed former Visa executive Kathleen Pierce-Gilmore as president of technology solutions, a move that could strengthen leadership and help expand the company’s fintech platform and partnerships. SoFi Names Visa Vet Kathleen Pierce-Gilmore President
• Positive Sentiment: Multiple market notes say SOFI is drawing heavy investor and retail attention, with articles highlighting a strong recent rally and unusually high trading volume, which can reinforce momentum in the stock. Investors Heavily Search SoFi Technologies, Inc. (SOFI): Here is What You Need to Know
• Positive Sentiment: Commentary around SoFi’s transformation from a student-loan lender into a broader fintech platform is helping support the bull case and keeping the stock in the spotlight. Inside SoFi’s shocking transformation from student loan company to fintech powerhouse
• Neutral Sentiment: SoFi was mentioned as a potential venue for SpaceX IPO access and in broader market wrapups, but these items do not appear to materially change near-term fundamentals. How to Try to Buy SpaceX Stock at the IPO Price
• Neutral Sentiment: One article asked whether SOFI could double this year, but framed that outcome as a stretch, which adds attention more than it changes the investment thesis. Prediction: Will SoFi Stock Double This Year?
• Negative Sentiment: A skeptical stock-prediction piece suggested SoFi’s recent rebound may not be enough to justify another major leg higher, which could temper enthusiasm after the rally. Prediction: Will SoFi Stock Double This Year?

Analyst Ratings Changes

A number of equities analysts recently issued reports on SOFI shares. JPMorgan Chase & Co. upgraded shares of SoFi Technologies from a "neutral" rating to an "overweight" rating and set a $31.00 price target on the stock in a research note on Tuesday, February 3rd. Morgan Stanley set a $16.00 price target on shares of SoFi Technologies in a research note on Thursday, April 30th. Mizuho set a $29.00 price target on shares of SoFi Technologies in a research note on Wednesday, May 6th. Argus started coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They issued a "hold" rating on the stock. Finally, Citizens Jmp upgraded shares of SoFi Technologies from a "market perform" rating to an "outperform" rating and set a $30.00 price target on the stock in a research note on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.56.

Insider Activity

In other news, EVP Kelli Keough sold 10,037 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $15.53, for a total transaction of $155,874.61. Following the completion of the sale, the executive vice president owned 323,247 shares of the company's stock, valued at $5,020,025.91. This represents a 3.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto bought 15,545 shares of SoFi Technologies stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $16.00 per share, with a total value of $248,720.00. Following the completion of the acquisition, the chief executive officer directly owned 11,946,619 shares in the company, valued at $191,145,904. This represents a 0.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 124,479 shares of company stock valued at $2,163,556 in the last quarter. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

SOFI opened at $18.58 on Tuesday. 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 capitalization of $23.83 billion, a P/E ratio of 42.23 and a beta of 2.14. The company's 50-day simple moving average is $16.72 and its two-hundred day simple moving average is $21.50. SoFi Technologies, Inc. has a 52-week low of $13.09 and a 52-week high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.05 billion. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business's revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, analysts predict that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

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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