Allstate Corp Purchases 48,283 Shares of SoFi Technologies, Inc. $SOFI

Allstate Corp boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 117.3% in the fourth quarter, HoldingsChannel reports. The firm owned 89,452 shares of the company’s stock after purchasing an additional 48,283 shares during the period. Allstate Corp’s holdings in SoFi Technologies were worth $2,342,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Rooted Wealth Advisors Inc. increased its holdings in SoFi Technologies by 10.8% in the fourth quarter. Rooted Wealth Advisors Inc. now owns 11,615 shares of the company’s stock worth $304,000 after purchasing an additional 1,132 shares in the last quarter. Legal & General Group Plc increased its stake in SoFi Technologies by 16.1% in the fourth quarter. Legal & General Group Plc now owns 2,484,547 shares of the company’s stock valued at $65,045,000 after purchasing an additional 343,755 shares in the last quarter. RHL Group LLC bought a new stake in SoFi Technologies in the fourth quarter valued at $1,284,000. SLT Holdings LLC increased its stake in SoFi Technologies by 27.9% in the fourth quarter. SLT Holdings LLC now owns 32,287 shares of the company’s stock valued at $845,000 after purchasing an additional 7,050 shares in the last quarter. Finally, First National Trust Co increased its stake in SoFi Technologies by 9.2% in the fourth quarter. First National Trust Co now owns 36,197 shares of the company’s stock valued at $948,000 after purchasing an additional 3,059 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto acquired 15,545 shares of SoFi Technologies stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $16.00 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 10,037 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $15.53, for a total value of $155,874.61. Following the completion of the transaction, the executive vice president owned 323,247 shares of the company’s stock, valued at $5,020,025.91. This trade represents a 3.01% 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. In the last ninety days, insiders sold 124,479 shares of company stock valued at $2,163,556. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies News Summary

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: SoFi launched SoFiUSD, a U.S. dollar stablecoin issued by its national bank unit, and made it available directly in the SoFi app to nearly 15 million members. SoFiUSD Becomes the First Stablecoin Issued by a US National Bank to Launch on a Banking Platform
• Positive Sentiment: The stablecoin rollout is being viewed as a strategic fintech expansion that could support higher user activity, more deposits, and future monetization through tokenized banking and transfers. SoFiUSD Stablecoin Puts Tokenized Banking And Fees In Investor Focus
• Positive Sentiment: Reports that CEO Anthony Noto has been buying SoFi shares on multiple occasions this year are reinforcing investor confidence, since insider buying is often seen as a sign management believes the stock is undervalued. SoFi CEO Anthony Noto Has Bought the Dip 3 Times This Year. Should You?
• Positive Sentiment: Analysts and market commentary are highlighting SoFi’s scaling tech-platform business and revenue growth potential as a longer-term upside driver for the stock. SoFi’s Tech Platform Revenue Is the Quiet Story Behind the Stock
• Neutral Sentiment: Some recent articles are speculative or opinion-based, including a 2030 stock-price prediction and comparisons with other fintech names, which may add attention but do not materially change fundamentals. Prediction: This Will Be SoFi’s Stock Price in 2030
• Neutral Sentiment: Data points on short interest and broader debit-spend trends are unlikely to move the stock on their own, but they add context around trading sentiment and consumer activity. The Spring Surge: New Galileo Debit Spend Index Charts Q1 Spend and the Year Ahead

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SOFI shares. Truist Financial decreased their price target on shares of SoFi Technologies from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, May 12th. Wells Fargo & Company decreased their price target on shares of 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. Weiss Ratings downgraded shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Stephens decreased their price objective on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Barclays decreased their price objective on SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.56.

SoFi Technologies Trading Up 4.9%

NASDAQ:SOFI opened at $16.97 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The firm has a 50-day moving average of $16.67 and a 200-day moving average of $21.67. The company has a market cap of $21.77 billion, a PE ratio of 38.57 and a beta of 2.12. SoFi Technologies, Inc. has a one year low of $12.86 and a one year high of $32.73.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. SoFi Technologies’s revenue was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal 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.