Simplicity Wealth LLC purchased a new stake 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 & Exchange Commission. The firm purchased 30,310 shares of the company's stock, valued at approximately $543,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in SoFi Technologies by 3.6% in the 4th 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 last quarter. State Street Corp grew its position in SoFi Technologies by 6.7% during the fourth quarter. State Street Corp now owns 25,937,928 shares of the company's stock valued at $679,055,000 after acquiring an additional 1,637,430 shares during the last quarter. Geode Capital Management LLC grew its position in SoFi Technologies by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock valued at $618,395,000 after acquiring an additional 1,951,248 shares during the last quarter. Morgan Stanley raised its stake in shares of SoFi Technologies by 33.6% during the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock worth $348,806,000 after acquiring an additional 3,350,258 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of SoFi Technologies during the fourth quarter worth approximately $321,515,000. Institutional investors own 38.43% of the company's stock.
Key Headlines Impacting SoFi Technologies
Here are the key news stories impacting SoFi Technologies this week:
- Positive Sentiment: Piper Sandler initiated coverage with an Overweight rating and a $22 price target, saying SoFi is a high-growth company with a powerful product flywheel and deserves a premium valuation compared with peers. The SoFi rebound has only just begun, says Piper Sandler
- Positive Sentiment: Additional coverage characterized the stock as offering an “attractive entry point,” helping reinforce investor interest after SoFi’s recent underperformance and correction. SoFi stock offers an attractive entry point: Analyst
- Positive Sentiment: Technical analysts reported that SOFI broke above a bullish flag pattern. A sustained move above approximately $20.13 could signal the end of its six-month consolidation and support a larger advance. SoFi Technologies Price Forecast: Breakout Could End Six-Month Consolidation
- Positive Sentiment: SoFi was highlighted as the strongest performer among personal-loan stocks in the recently completed second-quarter earnings season, supporting the view that its growth is outpacing industry peers. Personal Loan Stocks Q2 Earnings: SoFi Best of the Bunch
- Neutral Sentiment: Wall Street remains divided: the bullish thesis points to SoFi’s growth, diversified products and recent earnings momentum, while the premium-multiple argument implies that investors are already paying for substantial future growth. SoFi Is Dividing Wall Street
- Negative Sentiment: SoFi has lagged Happen Bank, formerly LendingClub, this year. The comparison raises competitive and valuation concerns despite SoFi’s stronger recent operating growth narrative. Happen Bank Is Crushing SoFi This Year
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SOFI. Mizuho cut 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 note on Friday, July 31st. The Goldman Sachs Group lifted 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. UBS Group lowered their price target on shares of SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Truist Financial upped their price target on shares of SoFi Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $18.00 price objective on shares of SoFi Technologies in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $22.42.
Check Out Our Latest Research Report on SOFI
SoFi Technologies Stock Performance
Shares of NASDAQ:SOFI opened at $18.31 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $17.58 and a 200-day moving average price of $17.76. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 38.15 and a beta of 2.17. SoFi Technologies, Inc. has a 12 month low of $14.88 and a 12 month high of $32.73.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.SoFi Technologies's quarterly revenue was up 42.5% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.6 EPS for the current year.
Insider Buying and Selling
In other news, EVP Kelli Keough sold 10,954 shares of the business's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $17.19, for a total transaction of $188,299.26. Following the transaction, the executive vice president directly owned 367,728 shares of the company's stock, valued at approximately $6,321,244.32. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 that occurred 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 transaction, the chief technology officer owned 895,089 shares of the company's stock, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 135,256 shares of company stock worth $2,370,822. Corporate insiders own 2.50% of the company's stock.
SoFi Technologies Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SOFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report).
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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