Royal London Asset Management Ltd. Grows Stake in SoFi Technologies, Inc. $SOFI

Royal London Asset Management Ltd. raised its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 18.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 404,912 shares of the company’s stock after buying an additional 62,892 shares during the quarter. Royal London Asset Management Ltd.’s holdings in SoFi Technologies were worth $7,260,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SOFI. BlackRock Inc. bought a new position in shares of SoFi Technologies during the second quarter valued at approximately $1,298,925,000. State Street Corp lifted its stake 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 acquiring an additional 1,637,430 shares during the period. Geode Capital Management LLC boosted 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 valued at $618,395,000 after acquiring an additional 1,951,248 shares in the last quarter. Morgan Stanley boosted its holdings in SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after acquiring an additional 3,350,258 shares in the last quarter. Finally, Norges Bank purchased a new position in SoFi Technologies during the 4th quarter valued at $321,515,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Trading Down 1.0%

Shares of NASDAQ SOFI opened at $17.88 on Tuesday. The firm’s 50 day moving average price is $17.85 and its 200-day moving average price is $17.51. SoFi Technologies, Inc. has a 52-week low of $14.88 and a 52-week high of $32.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The company has a market cap of $23.09 billion, a PE ratio of 37.25 and a beta of 2.17.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research reports. Piper Sandler initiated coverage on shares of SoFi Technologies in a report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price objective for the company. The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Mizuho lowered their price objective on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Citigroup cut their price objective on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Finally, Needham & Company LLC reduced their target price on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.42.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 11,286 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. The trade was a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 136,505 shares of company stock valued at $2,418,096. Corporate insiders own 2.50% of the company’s stock.

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.