Pictet Asset Management Holding SA Has $7.43 Million Position in SoFi Technologies, Inc. $SOFI

Pictet Asset Management Holding SA reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 468,089 shares of the company’s stock after selling 38,389 shares during the quarter. Pictet Asset Management Holding SA’s holdings in SoFi Technologies were worth $7,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SOFI. Vanguard Group Inc. grew its holdings in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock valued at $2,906,061,000 after purchasing an additional 3,900,895 shares during the period. State Street Corp raised its holdings in SoFi Technologies by 6.7% in the fourth quarter. State Street Corp now owns 25,937,928 shares of the company’s stock worth $679,055,000 after purchasing an additional 1,637,430 shares during the period. Geode Capital Management LLC raised its holdings in SoFi Technologies by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock worth $618,395,000 after purchasing an additional 1,951,248 shares during the period. Morgan Stanley boosted its position 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 purchasing an additional 3,350,258 shares in the last quarter. Finally, Norges Bank bought a new position in shares of SoFi Technologies during the fourth quarter worth $321,515,000. 38.43% of the stock is owned by institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto purchased 15,545 shares of the company’s stock in a transaction on Monday, May 11th. The shares were 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 10,954 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the sale, the executive vice president owned 378,682 shares in the company, valued at approximately $6,570,132.70. This trade represents a 2.81% decrease in their ownership of the stock. 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 134,044 shares of company stock valued at $2,370,056 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $18.24 on Friday. The firm has a fifty day moving average of $16.88 and a 200-day moving average of $19.77. 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, Inc. has a 12-month low of $14.92 and a 12-month high of $32.73. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 41.46 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 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 firm’s revenue was up 42.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SOFI shares. TD Cowen lowered 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 report on Thursday, April 30th. Truist Financial reduced their target price on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, May 12th. Wells Fargo & Company decreased their target price on SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. UBS Group lowered their price target on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Weiss Ratings lowered SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.56.

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.