SoFi Technologies, Inc. $SOFI Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its SoFi stake by 9.0% in the fourth quarter, buying nearly 2 million additional shares and lifting its holding to 23.64 million shares worth about $618.4 million.
• SoFi has been getting fresh attention from investors and traders after launching a native stablecoin feature for banking customers, with reports also pointing to strong momentum and unusually heavy call-option buying.
• The company posted better-than-expected first-quarter results, with revenue of $1.09 billion topping estimates and EPS of $0.12 matching forecasts; analysts currently rate the stock a consensus Hold with an average target price of $22.56.

Geode Capital Management LLC lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,642,936 shares of the company's stock after purchasing an additional 1,951,248 shares during the quarter. Geode Capital Management LLC owned about 1.96% of SoFi Technologies worth $618,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Williamson Legacy Group LLC grew its stake in shares of SoFi Technologies by 60.2% during the 4th quarter. Williamson Legacy Group LLC now owns 84,729 shares of the company's stock worth $2,218,000 after purchasing an additional 31,845 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of SoFi Technologies by 21.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,880 shares of the company's stock worth $75,000 after purchasing an additional 503 shares during the period. Bleakley Financial Group LLC grew its stake in shares of SoFi Technologies by 10.9% during the 4th quarter. Bleakley Financial Group LLC now owns 20,651 shares of the company's stock worth $541,000 after purchasing an additional 2,023 shares during the period. Harbour Investments Inc. grew its stake in shares of SoFi Technologies by 2.0% during the 4th quarter. Harbour Investments Inc. now owns 70,088 shares of the company's stock worth $1,835,000 after purchasing an additional 1,374 shares during the period. Finally, Allstate Corp grew its stake in shares of SoFi Technologies by 117.3% during the 4th quarter. Allstate Corp now owns 89,452 shares of the company's stock worth $2,342,000 after purchasing an additional 48,283 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies News Roundup

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

• Positive Sentiment: SoFi launched a native stablecoin feature for banking customers, giving the company a new crypto-adjacent product and a potential driver of user activity. SoFi launches native stablecoin to all its banking customers
• Positive Sentiment: Shares are benefiting from renewed enthusiasm around fintech and technical breakout buying, with traders pointing to strong momentum after a recent double-bottom setup. SoFi Shares Surge On Stablecoin Rollout: What Investors Need To Know
• Positive Sentiment: Analysts and market commentators say SoFi’s expanding ecosystem and rapid growth in members and products reinforce the company’s long-term growth story. SoFi's Expanding Ecosystem Highlights Strong Growth Momentum
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for continued upside in the near term. SoFi surges 13%: Stablecoins, short squeezes, and the return of retail
• Neutral Sentiment: Coverage also notes SoFi has had a weak year overall, so the rally may reflect a rebound from depressed levels as much as fresh fundamental news. SoFi Stock Caps Off a Huge Week. Momentum Is Back.

Insider Buying and Selling

In other news, CEO Anthony Noto bought 15,545 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $16.00 per share, with a total value of $248,720.00. Following the purchase, the chief executive officer owned 11,946,619 shares of the company's stock, valued at $191,145,904. This trade represents a 0.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,037 shares of the business'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 transaction, the executive vice president directly owned 323,247 shares of the company's stock, valued at $5,020,025.91. The trade was a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 124,479 shares of company stock worth $2,163,556 in the last three months. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley set a $16.00 price target on shares of SoFi Technologies in a research note on Thursday, April 30th. Needham & Company LLC lowered their price target on shares of SoFi Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised 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. Weiss Ratings lowered shares of SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday. Finally, UBS Group decreased their price objective on shares of SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $22.56.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $18.22 on Friday. SoFi Technologies, Inc. has a 52 week low of $12.86 and a 52 week high of $32.73. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The firm's 50-day simple moving average is $16.69 and its 200 day simple moving average is $21.65. The firm has a market capitalization of $23.37 billion, a PE ratio of 41.41 and a beta of 2.12.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned $0.06 EPS. The business's revenue for the quarter was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

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.

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.