Bank of Nova Scotia Purchases Shares of 72,567 SoFi Technologies, Inc. $SOFI

Bank of Nova Scotia acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the second quarter, Holdings Channel reports. The institutional investor acquired 72,567 shares of the company’s stock, valued at approximately $1,301,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock worth $2,906,061,000 after buying an additional 3,900,895 shares in the last quarter. BlackRock Inc. purchased a new position in SoFi Technologies in the second quarter valued at $1,298,925,000. State Street Corp raised its position 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 acquiring 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 acquiring an additional 1,951,248 shares during the period. Finally, Morgan Stanley raised its position in shares of SoFi Technologies by 33.6% in the fourth 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 period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 102,123 shares of the firm’s 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 transaction, the chief technology officer owned 895,089 shares in the company, valued at $15,914,682.42. This trade represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 business’s stock in a transaction that occurred 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 owned 356,442 shares of the company’s stock, valued at $6,415,956. The trade was a 3.07% 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. Over the last quarter, insiders have sold 136,505 shares of company stock valued at $2,418,096. 2.50% of the stock is owned by company insiders.

SoFi Technologies Stock Down 0.8%

Shares of NASDAQ SOFI opened at $18.84 on Thursday. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 39.25 and a beta of 2.17. The company’s 50-day simple moving average is $17.81 and its 200-day simple moving average is $17.57. 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 52-week low of $14.88 and a 52-week high of $32.73.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Key Stories Impacting SoFi Technologies

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

• Positive Sentiment: SoFi’s broader fintech strategy is attracting investors, with the company increasingly positioned as an integrated “everything app” spanning lending, deposits, investing and financial technology services. SoFi Technologies Jumps As Fintech Story Expands
• Positive Sentiment: Analysts and investors remain encouraged by steady revenue and earnings growth. SoFi has exceeded or met expectations for 11 consecutive quarters, while its latest results showed revenue growth of 42.5% year over year and EPS above consensus. SoFi: The Everything App Thesis Is Playing Out
• Positive Sentiment: The SoFiUSD stablecoin initiative is moving toward real-world payments, including 24/7 transfers and an initial $300 million liquidity pool. The announcement has linked SOFI to renewed investor interest in stablecoins and digital-asset infrastructure. SoFi Technologies Stablecoin Push
• Positive Sentiment: SOFI recently outperformed the broader financial sector, with technical momentum improving as shares moved back above their 50-day and 200-day trend lines. Sofi Stock Is Trending: A Key Level Just Came Into Play
• Neutral Sentiment: Reported short interest was zero shares, indicating no meaningful short-position data to provide an additional bullish or bearish signal.
• Neutral Sentiment: Analyst sentiment is mixed: the consensus rating is “Hold,” but the average price target of $22.42 remains above recent trading levels. Piper Sandler initiated coverage with an “Overweight” rating and a $22 target.
• Negative Sentiment: Executive Vice President Kelli Keough sold 11,286 shares worth approximately $203,000. The transaction was made under a pre-arranged Rule 10b5-1 plan and represents only a modest reduction in her holdings, limiting its significance but still creating a minor overhang. Kelli Keough Sells SoFi Shares
• Negative Sentiment: Valuation risk remains: SOFI trades at roughly 23 times forward earnings and has a high beta, leaving the stock sensitive to profit-taking, interest-rate expectations and execution risk surrounding new products.

Analyst Ratings Changes

SOFI has been the topic of a number of analyst reports. Needham & Company LLC dropped their target price on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Wells Fargo & Company reduced their price target on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Citigroup lowered their price target 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. Piper Sandler started coverage on SoFi Technologies in a report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price objective on the stock. Finally, Mizuho cut their price objective 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. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $22.42.

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.