SoFi Technologies $SOFI Bullish Option Flow, Insider Buys

  • Post category:Options Trading
  • Reading time:6 mins read
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Bullish option was detected in SOFI stock on March 21, 2022. Large insider buys have also been detected in the stock.

SOFI Stock Option Flow

Sofi Stock Option Flow

Make sure to review this lesson on option flow so that you understand the image above.

SoFi Technologies CEO buys $303K in common stock

On March 17, 2022, in a regulatory filing, SoFi Technologies disclosed that its CEO Anthony Noto bought 34K shares of common stock on March 17th in a total transaction size of $303K.

SoFi Technologies CEO buys $150K in common stock

On March 16, 2022, in a regulatory filing, SoFi Technologies disclosed that its CEO Anthony Noto bought 17.4K shares of common stock on March 16th in a total transaction size of $149.8K.

SoFi CEO Noto buys 19,042 shares at price of $7.85

On March 15, 2022, SoFi Technologies CEO Anthony Noto disclosed last night the purchase of 19,042 shares at a price of $7.85 Noto now owns 2,964,795 shares of SoFi.

SoFi Technologies initiated with a Neutral at Piper Sandler

On March 7, 2022, Piper Sandler analyst Kevin Barker initiated coverage of SoFi Technologies with a Neutral rating and $12 price target. The company is “very well positioned to become a major disruptor” within the financial services industry due to its simplistic user interface and wholistic product offering, Barker tells investors in a research note. The analyst, however, would be more constructive if SoFi could sustain its growth trajectory while showing signs of operating leverage.

SoFi Completes Acquisition of Technisys

On March 3, 2022, SoFi Technologies, Inc. (NASDAQ: SOFI), the digital personal finance company, today announced the completion of its acquisition of Technisys S.à.r.l. (“Technisys”), a leading cloud-native, digital multi-product core banking platform.

Technisys adds a unique, strategic technology and business to the SoFi family, bolstering SoFi in its pursuit to provide best-of-breed products as a one-stop-shop financial services platform, and complementing and enhancing SoFi’s Galileo business, in SoFi’s overall pursuit to build the AWS of fintech. The combined Galileo/Technisys technology stack will create what is expected to be the only end-to-end vertically integrated banking technology stack, from user interface development capabilities to a customizable multi-product banking core and ledger with fully integrated processing and card issuing available for SoFi products and Galileo/Technisys partners. The combination of Technisys’ platform with Galileo will uniquely support multiple products – including checking, savings, deposits, lending and credit cards – as well as future products, all surfaced through industry-leading APIs. Together, Galileo and Technisys are expected to enable the combined company to meet both the expanding needs of their existing partners, as well as serve additional established banks, fintechs and non-financial brands looking to enter financial services.

The acquisition is also expected to add to the high revenue growth rate of SoFi and accelerate its three-year revenue CAGR. Together, the companies can better serve Galileo’s consumer fintech and enterprise partners seeking to add product offerings to their 100 million enabled customer accounts across the U.S., Mexico and Colombia, and Technisys’ more than 60 established bank, fintech and non-financial brands in Latin America and the U.S., while expanding both companies’ partner bases in the U.S. and an addressable market across 16 countries. The estimated incremental revenue from the acquisition, including base revenue of Technisys and revenue synergies of the vertically integrated capabilities, is expected to add a cumulative $500 to $800 million through year-end 2025, at high incremental margins.

SoFi also expects to leverage this modern technology stack to capture significant savings in third-party costs by integrating Technisys. Once SoFi has migrated off its current multiple third-party cores to a single owned and operated Technisys core, it expects to be able to innovate even faster, perform more real-time decisions, and offer greater personalization for its approximately three and a half million members. SoFi estimates this shift and the vertical integration with Galileo will create approximately $75 to $85 million in cumulative cost savings from 2023 to 2025 and approximately $60 to $70 million annually thereafter.

📺 Sofi Stock Bottoms? Plus SOFI CEO Confronts President Biden About Huge Issue


📉 SOFI Stock Technical Analysis

Sofi Stock Chart

The short-term trend is negative, as is the long-term trend. SOFI is currently trading in the lower part of its 52-week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still is trading in the middle of its 52-week range.

There is a resistance zone ranging from 9.86 to 9.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is resistance at 10.06 from a trend line in the daily time frame. There is another resistance at 10.96 from a trend line in the daily time frame. There is also resistance at 23.04 from a horizontal line in the daily time frame.

The technical rating of SOFI is bad and it also does not present a quality setup at the moment. SOFI stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when SOFI stock consolidates and has a Setup Rating of 8 or higher.

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