Cathie Wood’s investment firm, ARK Invest, has been steadily accumulating shares of SoFi Technologies (SOFI) in recent trading sessions. The firm’s flagship ARK Innovation ETF (ARKK) acquired 54,838 shares on July 2, representing approximately $1 million in value. This transaction came after earlier purchases of 202,095 shares on June 30 and another 92,999 shares on June 29, bringing the three-day total to over 349,000 shares.
Shares of SOFI started trading Friday at $18.24, a significant discount from the stock’s 52-week peak of $32.73. The fintech company has experienced a sharp decline of more than 30% since the beginning of the year. Technical indicators show the 50-day moving average currently stands at $16.88, compared to the 200-day moving average of $19.77.
While ARK’s buying spree signals confidence, the broader analyst community remains cautious. Out of 21 analysts tracking the stock, the consensus lands at Hold, with a breakdown of 10 Hold ratings, six to seven Buy ratings, and three Sell ratings, varying by data source. Price target averages span from $20.69 to $22.56, suggesting limited upside potential from current trading levels.
Moshe Orenbuch from TD Cowen maintained his Hold rating alongside an $18 price target. His analysis highlighted concerns about rising delinquencies in SoFi’s May 2026 personal loan trust data, though he observed that the cumulative loss rate has begun decelerating. Orenbuch also pointed out that SoFi lagged behind industry peers on delinquency metrics, potentially due to prepayment dynamics.
Matthew Coad of Truist retained his Hold position but reduced his price target from $20 down to $17. His revision stems from lowered Q2 revenue projections, reflecting weaker expectations for both the loan platform and technology platform divisions.
Among the more bullish voices, William Blair’s Andrew Jeffrey continues to rate the stock as a Buy. Following discussions with CEO Anthony Noto, Jeffrey acknowledged the absence of significant near-term catalysts but believes downside risk is limited. His forecast includes EBITDA CAGR exceeding 30% with gradual multiple expansion anticipated.
Citigroup maintains a Buy rating with a $30 price target. Stephens assigns an Overweight rating at $25. Both Barclays and Wells Fargo sit at Equal Weight, each targeting $18. The most pessimistic outlook comes from Keefe, Bruyette & Woods with an Underperform rating and $17 target.
Institutional interest in SoFi has been widespread. Portman Square Capital initiated a new position during Q1, acquiring 37,753 shares valued at approximately $600,000. Norges Bank established a fresh stake worth more than $321 million in Q4. Vanguard expanded its holdings by 3.6%, bringing its total position to over 111 million shares. Morgan Stanley boosted its stake by 33.6%. Collectively, institutional investors control roughly 38.43% of outstanding SOFI shares.
Insider transactions paint a nuanced picture. In May, CEO Anthony Noto purchased 15,545 shares at $16.00 apiece, totaling $248,720. Conversely, CTO Jeremy Rishel divested 102,123 shares in June at $17.78 per share through a pre-scheduled 10b5-1 trading plan, mainly to satisfy tax liabilities associated with vesting equity compensation.
SoFi delivered Q1 fiscal 2026 revenue of $1.09 billion, exceeding the consensus estimate of $1.05 billion and marking a 42.6% increase from the prior year. Earnings per share came in at $0.12, meeting analyst expectations. For the full fiscal year 2026, management has issued EPS guidance of $0.60, while the Street anticipates $0.59.
The post ARK Invest Scoops Up 349K SoFi (SOFI) Shares During Stock Downturn — Should You Follow? appeared first on Blockonomi.
