Summit Financial LLC Acquires 98,171 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Summit Financial LLC increased its stake in SoFi Technologies by 15.7% in the fourth quarter, adding 98,171 shares and bringing its total holding to 723,556 shares worth about $18.9 million.
• Institutional ownership remains significant, with several other investors also buying in during the quarter and institutions now holding 38.43% of SoFi’s stock.
• Analyst and market sentiment is mixed: SoFi’s recent earnings showed 42.6% year-over-year revenue growth and EPS in line with estimates, but analysts have trimmed price targets and the stock has faced a notable pullback amid valuation and profitability concerns.

Summit Financial LLC increased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 723,556 shares of the company's stock after acquiring an additional 98,171 shares during the quarter. Summit Financial LLC owned about 0.06% of SoFi Technologies worth $18,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SOFI. Valley Wealth Managers Inc. bought a new stake in SoFi Technologies during the 4th quarter valued at about $25,000. Vermillion Wealth Management Inc. increased its stake in SoFi Technologies by 283.1% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock valued at $26,000 after purchasing an additional 739 shares in the last quarter. Blue Trust Inc. increased its stake in SoFi Technologies by 655.2% during the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock valued at $26,000 after purchasing an additional 878 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in SoFi Technologies during the 4th quarter valued at about $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in SoFi Technologies during the 4th quarter valued at about $29,000. 38.43% of the stock is currently owned by institutional investors.

Key Headlines Impacting SoFi Technologies

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

• Positive Sentiment: SoFi’s improving brand awareness is being cited as a driver of faster member growth, which supports its core digital banking and lending expansion thesis. SoFi's Growing Brand Strength Continues to Drive Member Expansion
• Positive Sentiment: SoFi announced monthly distributions for its Enhanced Yield ETF (THTA), reinforcing its presence in the ETF and income-investing market and potentially supporting fee-related growth. SoFi Announces Monthly Distributions on $THTA (10.00%)
• Positive Sentiment: Several analysts and market commentators are highlighting SoFi as a stock with strong growth potential despite the recent selloff, with some arguing the bearish case is overstated given revenue growth and profitability trends. SoFi's 36% Selloff Hides What The Bears Keep Getting Wrong
• Neutral Sentiment: SoFi is trending on Zacks, which reflects elevated investor attention but does not by itself change the company’s fundamentals. SoFi Technologies, Inc. (SOFI) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that SoFi launched a stablecoin and became the first U.S. bank to do so could be strategically important, but the near-term earnings impact is still uncertain. SoFi just became the first US bank to launch its own stablecoin. Here's why it matters.
• Negative Sentiment: Recent articles continue to point to a steep pullback in the stock, with concerns about valuation, high interest rates, and profitability weighing on investor sentiment. SoFi Stock Slides 42% in 6 Months: Buying Opportunity or Red Flag?
• Negative Sentiment: Another market update notes SoFi has recently fallen more than the broader market, reinforcing the weakness in the share price. SoFi Technologies, Inc. (SOFI) Falls More Steeply Than Broader Market: What Investors Need to Know

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 94,958 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total value of $1,655,117.94. Following the completion of the sale, the chief technology officer directly owned 839,640 shares in the company, valued at $14,634,925.20. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,037 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 124,479 shares of company stock worth $2,163,556 over the last three months. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of analyst reports. Weiss Ratings lowered shares of SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Citigroup reduced their price objective on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Truist Financial reduced their price objective on shares of SoFi Technologies from $20.00 to $17.00 and set a "hold" rating for the company in a research note on Tuesday, May 12th. TD Cowen reduced their price objective on shares of SoFi Technologies from $24.00 to $18.00 and set a "hold" rating for the company in a research note on Thursday, April 30th. Finally, Barclays reduced their price objective on shares of SoFi Technologies from $28.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Seven investment 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, SoFi Technologies currently has an average rating of "Hold" and an average target price of $22.56.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $16.58 on Friday. The company has a 50 day moving average price of $16.81 and a 200-day moving average price of $20.87. SoFi Technologies, Inc. has a 52 week low of $13.97 and a 52 week high of $32.73. The firm has a market capitalization of $21.27 billion, a PE ratio of 37.68 and a beta of 2.14. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business posted $0.06 earnings per share. The business'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. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.58 earnings per share for the current year.

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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