Royal London Asset Management Ltd. Purchases 62,892 Shares of SoFi Technologies, Inc. $SOFI

Royal London Asset Management Ltd. boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,912 shares of the company’s stock after acquiring an additional 62,892 shares during the period. Royal London Asset Management Ltd.’s holdings in SoFi Technologies were worth $7,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SOFI. BlackRock Inc. bought a new position in SoFi Technologies in the 2nd quarter valued at $1,298,925,000. State Street Corp increased its holdings in shares of 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 position in shares of 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 buying an additional 1,951,248 shares in the last quarter. Morgan Stanley boosted its stake in SoFi Technologies by 33.6% during the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after buying an additional 3,350,258 shares during the period. Finally, Norges Bank bought a new stake in SoFi Technologies during the fourth quarter valued at $321,515,000. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the subject of several recent analyst reports. Mizuho reduced their target price on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Needham & Company LLC dropped their target price on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Citigroup decreased their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $22.42.

SoFi Technologies Price Performance

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

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) 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 analyst estimates of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company’s revenue was up 42.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Research analysts anticipate that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 11,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares in the company, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares of the company’s stock, valued at $15,914,682.42. This represents a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 136,505 shares of company stock valued at $2,418,096. Insiders own 2.50% of the company’s stock.

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.