ARK Invest Accumulates 349K SoFi (SOFI) Shares — Should Investors Follow Cathie Wood's Lead?

Key Takeaways

Table of Contents

ARK Invest acquired more than 349,000 shares of SOFI between June 29 and July 2 via the ARKK ETF
Shares of SOFI have declined over 30% since the start of the year, with current pricing near $18.24
Analyst consensus sits at Hold, with average targets ranging between $20.69 and $22.56
First quarter fiscal 2026 revenue reached $1.09 billion, representing a 42.6% year-over-year increase and surpassing projections
In May, CEO Anthony Noto purchased 15,545 shares at $16.00, while the company’s CTO executed a sale in June

Cathie Wood’s investment firm ARK Invest has been steadily accumulating shares of SoFi Technologies (SOFI) in recent trading sessions. On July 2, ARK added 54,838 shares valued at approximately $1 million via the ARK Innovation ETF (ARKK). This transaction came after the firm acquired 202,095 shares on June 30 and an additional 92,999 shares on June 29 — totaling more than 349,000 shares over a three-day span.

SoFi Technologies, Inc., SOFI

The stock began Friday’s session at $18.24, trading significantly beneath its 52-week peak of $32.73. Year-to-date performance shows a decline exceeding 30%. Technical indicators reveal the 50-day moving average at $16.88, with the 200-day moving average positioned at $19.77.

While ARK’s recent accumulation demonstrates confidence, the broader analyst community maintains a more reserved outlook. Among 21 analysts tracking the stock, the consensus rating stands at Hold, with the breakdown showing 10 Hold ratings, six to seven Buy recommendations, and three Sell ratings. Price target averages span from $20.69 to $22.56 — suggesting moderate upside potential from present trading levels.

Analyst Perspectives on SOFI

Moshe Orenbuch from TD Cowen maintained his Hold stance with an $18 price objective. His analysis highlighted that data from SoFi’s May 2026 personal loan trust revealed increasing delinquency rates, though the rate of cumulative losses showed signs of deceleration. Orenbuch further observed that SoFi lagged behind industry benchmarks on delinquency metrics, possibly influenced by prepayment activity.

Truist analyst Matthew Coad similarly retained his Hold rating while reducing his price target from $20 to $17. His revised second-quarter revenue projections reflect diminished expectations for both the loan platform and technology platform business segments.

Andrew Jeffrey from William Blair represents a more bullish perspective, sustaining a Buy recommendation. Following discussions with CEO Anthony Noto, Jeffrey acknowledged the absence of significant near-term catalysts but identifies limited downside risk. His projections include an EBITDA compound annual growth rate exceeding 30%, along with anticipated gradual multiple expansion.

Citigroup maintains a Buy rating with a $30 price objective. Stephens assigns an Overweight rating with a $25 target. Both Barclays and Wells Fargo hold Equal Weight positions, each with $18 targets. Keefe, Bruyette & Woods presents the most conservative outlook with an Underperform rating and $17 target.

Institutional Holdings and Insider Transactions

Institutional buying activity has been widespread. Portman Square Capital established a fresh position during Q1, acquiring 37,753 shares valued at approximately $600,000. Norges Bank initiated a new stake exceeding $321 million in Q4. Vanguard expanded its holdings by 3.6%, bringing its total to over 111 million shares. Morgan Stanley increased its position by 33.6%. Collectively, institutional ownership represents roughly 38.43% of outstanding SOFI shares.

Insider transactions present a mixed picture. CEO Anthony Noto acquired 15,545 shares in May at $16.00 each, representing a total investment of $248,720. CTO Jeremy Rishel divested 102,123 shares in June at $17.78 per share through a predetermined 10b5-1 trading plan, primarily to satisfy tax liabilities associated with vesting equity compensation.

SoFi’s first quarter fiscal 2026 financial results demonstrated revenue of $1.09 billion, exceeding the $1.05 billion consensus estimate and marking a 42.6% year-over-year expansion. Earnings per share of $0.12 aligned with projections. The company’s full-year 2026 EPS guidance stands at $0.60, while analyst expectations currently average $0.59.

✨ Limited Time Offer