Tidal Investments LLC Purchases 150,923 Shares of SoFi Technologies, Inc. $SOFI

Tidal Investments LLC increased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 39.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 538,067 shares of the company’s stock after purchasing an additional 150,923 shares during the period. Tidal Investments LLC’s holdings in SoFi Technologies were worth $9,648,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of SoFi Technologies in the second quarter valued at $1,298,925,000. California State Teachers Retirement System increased its position in shares of SoFi Technologies by 1,603.2% during the second quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock worth $559,435,000 after acquiring an additional 29,369,164 shares in the last quarter. 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 acquiring an additional 1,637,430 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of SoFi Technologies by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock worth $618,395,000 after acquiring an additional 1,951,248 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of SoFi Technologies by 33.6% in the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after acquiring an additional 3,350,258 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the sale, the executive vice president owned 356,442 shares of the company’s stock, valued at approximately $6,415,956. This represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 firm’s stock in a transaction dated 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 owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This represents a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 136,505 shares of company stock worth $2,418,096 in the last three months. Insiders own 2.50% of the company’s stock.

SoFi Technologies Trading Up 0.6%

Shares of SOFI stock opened at $17.32 on Friday. The firm has a market cap of $22.37 billion, a P/E ratio of 36.08, a PEG ratio of 1.42 and a beta of 2.20. The company has a 50 day moving average of $17.83 and a 200-day moving average of $17.41. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. SoFi Technologies, Inc. has a 12-month low of $14.88 and a 12-month high of $32.73.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The business’s revenue for the quarter 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. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SOFI. Mizuho dropped their price target on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Morgan Stanley lowered their price objective on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Thursday, July 30th. Piper Sandler began coverage on SoFi Technologies in a report on Monday, August 17th. They issued an “overweight” rating and a $22.00 target price on the stock. Wells Fargo & Company dropped their target price on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Finally, Scotiabank initiated coverage on SoFi Technologies in a research report on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.52.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.