UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in SoFi Technologies, Inc. $SOFI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,925,068 shares of the company’s stock after buying an additional 198,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SoFi Technologies were worth $88,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SOFI. BlackRock Inc. purchased a new position in shares of SoFi Technologies in the second quarter valued at approximately $1,298,925,000. State Street Corp increased its position in shares of SoFi Technologies by 6.7% during 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 in the last quarter. Geode Capital Management LLC increased its position in shares of SoFi Technologies by 9.0% during 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 in the last quarter. Morgan Stanley raised its stake in SoFi Technologies by 33.6% in the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after purchasing an additional 3,350,258 shares during the last quarter. Finally, Norges Bank acquired a new position in SoFi Technologies in the 4th quarter valued at $321,515,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho lowered their target price on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Piper Sandler initiated coverage on shares of SoFi Technologies in a research report on Monday, August 17th. They issued an “overweight” rating and a $22.00 target price for the company. Truist Financial boosted their price target on shares of SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Wells Fargo & Company dropped their price objective on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.42.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the transaction, the chief technology officer directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, EVP Kelli Keough sold 11,286 shares of the firm’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 sale, the executive vice president directly owned 356,442 shares of the company’s stock, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 136,505 shares of company stock valued at $2,418,096 over the last quarter. 2.50% of the stock is currently owned by company insiders.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $17.05 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The firm’s 50-day moving average is $17.85 and its two-hundred day moving average is $17.49. SoFi Technologies, Inc. has a 12 month low of $14.88 and a 12 month high of $32.73. The company has a market capitalization of $22.02 billion, a PE ratio of 35.52 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI) last posted 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. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The business’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

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.