SoFi Technologies, Inc. $SOFI Holdings Raised by Covenant Asset Management LLC

Key Points

• Covenant Asset Management raised its SoFi stake by 120.2% in Q4 to 179,902 shares valued at $4.71 million, making SOFI its 26th-largest holding and about 0.6% of the firm's portfolio.
• Institutional ownership of SOFI is 38.43%, with several funds boosting positions and insiders (including CEO Anthony Noto and General Counsel Robert Lavet) recently purchasing shares, indicating both external and internal buying interest.
• SoFi launched a fully digital HELOC and management highlighted S&P 500 potential, but the company faces competitive threats (notably Elon Musk’s X Money offering high rates) and a negative EPS sentiment ahead of upcoming earnings that could increase volatility.

Covenant Asset Management LLC raised its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 120.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,902 shares of the company's stock after purchasing an additional 98,202 shares during the period. SoFi Technologies accounts for about 0.6% of Covenant Asset Management LLC's investment portfolio, making the stock its 26th largest position. Covenant Asset Management LLC's holdings in SoFi Technologies were worth $4,710,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SOFI. American Capital Advisory LLC boosted its position in shares of SoFi Technologies by 456.7% in the fourth quarter. American Capital Advisory LLC now owns 1,297 shares of the company's stock valued at $34,000 after acquiring an additional 1,064 shares during the period. Vivid Wealth Management LLC bought a new position in SoFi Technologies in the fourth quarter valued at approximately $2,628,000. Wealthfront Advisers LLC grew its stake in shares of SoFi Technologies by 12.6% during the 4th quarter. Wealthfront Advisers LLC now owns 166,634 shares of the company's stock worth $4,362,000 after acquiring an additional 18,672 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in SoFi Technologies by 5.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 473,116 shares of the company's stock worth $12,386,000 after buying an additional 25,973 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in SoFi Technologies by 22.1% in the fourth quarter. M&T Bank Corp now owns 57,340 shares of the company's stock valued at $1,501,000 after acquiring an additional 10,383 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Trending Headlines about SoFi Technologies

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

• Positive Sentiment: Product expansion — SoFi launched a fully digital Home Equity Line of Credit (HELOC) to deepen its home-lending product set and cross-sell to members; management also highlighted SoFi as an S&P 500 contender, which could improve index-inclusion visibility and investor demand. SoFi Launches New Digital HELOC
• Neutral Sentiment: Earnings previews — Multiple previews (Seeking Alpha, Blockonomi, Yahoo, Zacks) expect continued top-line strength and margin improvement as the focus for Q1, pointing to revenue growth and potential operating leverage, but they note uncertainty around EPS beats because of a negative ESP. Q1 Preview: Revenue Growth, Margin Expansion
• Neutral Sentiment: Investor interest & options activity — Options flow and commentary show elevated speculative positioning into earnings, signaling that traders are betting on a post-report move but adding volatility risk around the print. Options Bulls Eye SOFI Before Earnings
• Neutral Sentiment: Valuation/analyst views — Coverage pieces (24/7 Wall St., Barchart) flag that SOFI has fallen sharply YTD and is trading at tepid valuations relative to its growth, prompting some analysts to call it a hold or a speculative buy ahead of results. SoFi's Wild Ride: $19 Price Target
• Negative Sentiment: New competitive threat — Reports on Elon Musk’s forthcoming X Money show early tests offering ~6% savings rates and 3% cash back, a potentially disruptive deposit/payments offering that could pressure SoFi’s deposit retention and margin profile if widely rolled out. Elon Musk's X Money Offers 6% Savings Rate
• Negative Sentiment: Regulatory/competitive churn — Other fintechs are moving toward bank charters (Merury got conditional OCC approval) and hiring SoFi alumni to run bank efforts, which could intensify competition in lending and deposits over time. Mercury Nabs Conditional OCC Charter
• Negative Sentiment: Earnings risk — Several previews note a strong revenue story but warn of a “negative ESP” (earnings sentiment) that reduces the likelihood of another consensus-beating EPS print, raising the chance of a disappoint-driven pullback after results. SOFI to Report Q1: Here's What to Expect

SoFi Technologies Trading Down 2.1%

Shares of SOFI stock opened at $18.36 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 0.17. The stock has a market cap of $23.41 billion, a P/E ratio of 48.32 and a beta of 2.24. The stock has a 50 day simple moving average of $17.73 and a 200 day simple moving average of $23.49. SoFi Technologies, Inc. has a 1 year low of $12.05 and a 1 year high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Friday, January 30th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.75 million. SoFi Technologies had a return on equity of 5.88% and a net margin of 13.34%.The company's revenue was up 39.6% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. SoFi Technologies has set its Q1 2026 guidance at 0.120- EPS and its FY 2026 guidance at 0.600- EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Robert S. Lavet acquired 5,000 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was acquired at an average price of $21.04 per share, with a total value of $105,200.00. Following the completion of the transaction, the general counsel directly owned 17,172 shares of the company's stock, valued at $361,298.88. This trade represents a 41.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Noto acquired 28,900 shares of SoFi Technologies stock in a transaction on Tuesday, March 17th. The shares were purchased at an average price of $17.32 per share, for a total transaction of $500,548.00. Following the completion of the purchase, the chief executive officer directly owned 11,704,352 shares of the company's stock, valued at approximately $202,719,376.64. This represents a 0.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 38,900 shares of company stock valued at $705,398 and have sold 218,422 shares valued at $4,105,468. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SOFI. JPMorgan Chase & Co. raised shares of SoFi Technologies from a "neutral" rating to an "overweight" rating and set a $31.00 target price on the stock in a report on Tuesday, February 3rd. Truist Financial dropped their price objective on SoFi Technologies from $21.00 to $20.00 and set a "hold" rating on the stock in a research note on Friday, April 24th. Keefe, Bruyette & Woods cut their price objective on SoFi Technologies from $20.00 to $17.00 and set an "underperform" rating for the company in a research report on Thursday, April 9th. Barclays decreased their target price on SoFi Technologies from $28.00 to $18.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. Finally, Needham & Company LLC dropped their price target on SoFi Technologies from $36.00 to $33.00 and set a "buy" rating on the stock in a research note on Monday, February 2nd. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average target price of $24.79.

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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