Update (Apr 1, 24)
Since Jan 1:
New Positions (In growth): $CLSK $ONON $CELH
Added: $SOFI $TSLA $U $PINS $COIN
Trimmed: $CELH
Cut: $RVLV $ROKU
Note: In January, I opened & began heavily adding to dividend portfolio. Going forward, I'll show my top 15 (/41) positions across all
HUGE $SOFI Q2 Results:
Revenue: $599M (Estimate was 565M) - BEAT
Net Income: $17M ($0.01 EPS, vs. 0.00 exp. - BEAT
Adj EBITDA: $137.9M vs $122.5M expected
+ 643,000 new members (41% growth)
+ 946,000 new products (36% growth)
And a guidance raise. That's a triple beat folks!
WATCH: $SOFI CEO Anthony Noto on Mad Money with Jim Cramer
Noto addressed all the major concerns shareholders and critics had about the convertible notes, highlighting it was from a position of strength.
Also reiterating the EBITDA benefits of $40-60M (!!)
FULL INTERVIEW 👇
$SOFI earnings leak shows a terrific quarter. Stock down 19%.
In the middle of a student loan freeze & a brutal lending environment brought up by these rate hikes, SoFi actually goes and RAISES their FY guidance.
SoFi expecting 1.5B FY rev meanwhile has 4.4B cap
No brainer buy
Everyone's talking about Cathie, but I also noticed some legendary fund managers in $SOFI per the latest 13F filings.
Paul Tudor Jones & Jim Simons 🤝 us SoFi bulls
BREAKING: $SOFI CFO Chris Lapointe at UBS Fireside on Tech platform:
"We did a large POC [proof of concept] with a top 5 U.S. bank" 🤯
Here's the top banks in the USA: $JPM $BAC $WFC $C
$SOFI Announces 2 new credit cards & a subscription service for SoFi Plus, coming later this year!!!!
Expecting a PR later today.
We predicted this announcement on the $SOFI Weekly
$SOFI Q4 Results:
$615 Million GAAP Net Revenue Up 35% Year-over-Year
$594 Million Adjusted Net Revenue Up 34% Year-over-Year
Fourth Quarter Positive GAAP Net Income of $48 Million, GAAP EPS of $0.02
Quarterly New Member Adds of Nearly 585,000; Total Members Up 44%
$SOFI Analysts last week: "SoFi is unprofitable, sell!"
$SOFI Analysts this week: "SoFi's is profitable but there's execution risks in their EPS targets, sell!"
🙄 can't win with these people.
And right on cue,
@anthonynoto
purchases another $200k of $SOFI stock on the open market.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
- Peter Lynch
$SOFI Raises FY 2024 Guidance, now expecting to deliver $2.39-2.43B in Adjusted Net Revenue, $590-600M in Adjusted EBITDA, $165-175M in Net Income and $0.08-0.09 cents in EPS
First impressions on $HOOD Gold Offering:
Let me first preface by saying I'm a product person by trade. I've worked in software leading product teams for SaaS companies as well as B2C companies for half a decade now, and I watched the Robinhood presentation and this simply feels
$SOFI New Form 4 just dropped.
CEO Anthony Noto just bought another 28,900 shares at a $6.91 average (~$200,000)
He owns a total of 8,062,269 shares. His last purchase was on May 6th of a similar amount (28,775 shares) 💪
What kills me a little inside is that when $SOFI breaks through new 52 week highs there will be people asking if its too late to buy at $12, 14, 15 etc.
Even though they had years to buy at $7 or less.
And in many cases its the same people who are bashing the stock today.
$SOFI CEO Anthony Noto has said that SoFi becoming a Top 10 financial institution is a matter of 'when', not 'if'
According to Forbes, SoFi is already recognized as a top 5 bank in the U.S., per the Forbes' World's Best Banks report. 🔥🔥
Amazing progress by the entire team!
WOW‼️💥🔥 Humbling to see
@SoFi
recognized as a top 5 bank in US in the newest
@Forbes
World’s Best Banks report ‼️ So proud of what
#TeamSoFi
is building 💪 So THANKFUL FOR OUR
@Sofi
Members.
I've been lowering my $SOFI cost basis aggressively in 2023, and today, I’m officially in the green on $SOFI.
Highest SoFi Purchase: $23.61
Lowest SoFi Purchase: $4.54
In 2021 SoFi was ~ 3% of my portfolio
In 2022, approx 6%
Today, it’s 18%
No plans on selling anytime soon.
We’re excited to announce that
@sofi
is joining the league as the Official Bank of the NBA! SoFi is the next generation of banking, here to help fans get their money right. Look out all season as we partner to put more money in your pocket. See you on the court! 🏀🔥☄️
$SOFI CEO Anthony Noto buys an additional 28,775 shares of SoFi at an avg. of $6.9/share, a total purchase of $198,548 worth of stock.
Following this transaction, Noto directly owns 8,033,369 shares of SoFi.
$SOFI
Everyone is impressed with Q2 numbers and meanwhile I’m over here still mind blown over their $0.04 EPS guidance for Q3
Because you know when they say $0.04 what they really mean is $0.06-0.07
$SOFI
CEO Anthony Noto has purchased ~500,000 shares on the open market so far this year. Most of these buys are in the $4 and $5 range.
In 2022, he bought over 2 million shares between $4-10
In 2021, he bought shares as high as $14.4/sh
He holds over 7.2 million shares.
$SOFI Earlier today, SoFi's CFO reaffirmed the FY 2026 guide of $0.55-0.8 EPS.
Analysts are expecting $0.08 EPS for 2024.
The difference between analyst estimates ($0.08) and the top-end of SoFi's 2026 EPS guide ($0.8) is literally a 10x in their EPS.
In just 2 years.
COULD $SOFI SEE A BIG SHORT SQUEEZE IN THE COMING WEEKS / MONTHS?
EPS Improvement:
1. $SOFI is adding ~$40M to the bottom line by avoiding 12.5% interest on preferred shares. This will reflect on their numbers immediately. (The moment this deal is finalized) EPS is almost surely
$SOFI The main thing people are complaining about is a light Q2 guide.
Even though they raised their FY guide. After beating expectations on ever other major metric.
Overblown reaction.
Analysts 3 months ago:
"Rates will be higher for longer. High rates will hurt $SOFI...sell"
Analysts today:
"Fed will cut this year. Lower rates will hurt $SOFI...sell"
I’ve been making content for 4 years and I was just stopped on the street by a viewer today, first time ever.
He stopped me and said, “I know you from somewhere,” thought for a minute and then added, “I’m a diamond hand kinda guy on $SOFI ”
Wholesome AF. Made my entire day.
Cathie Wood's ARK Invest adds to their $SOFI position
473,225 shares.. Which is a huge purchase considering the combined position they already have is around 788k shares.
So Cathie basically increased her position by ~60%
Guess she liked the earnings?
Cathie Wood's flagship fund $ARKK adds a WHOPPING 2.5 MILLION shares of $SOFI
As of yesterday, the combined holdings of $SOFI across ARK funds were 2.46M shares.
This more than doubles her existing position in SoFi. 👀
$SOFI Q4 Earnings Call:
Anthony Noto opening remarks: "When comparing our business to FY 2018 when I joined, we have grown annual revenue by almost 8x, members by 11x, products by 16x"
👀
Quick math:
The combined value of Aramco + $AAPL is over $11T.
Today, Tesla is worth 789B. ($248/sh)
In 5 years, if $TSLA had an $11T market cap, it would equate to a stock price of ~$3500 per share.
A 1400%+ gain in 5 years.
And you think Cathie is bullish...
@WholeMarsBlog
I stand by my prediction that, if Tesla executes extremely well over the next 5 years, that the long term value could exceed Apple and Aramco combined
$SOFI has announced its plan to redeem all outstanding shares of its Series 1 Redeemable Preferred Stock on May 29, 2024, for a sum that includes the share value plus any unpaid dividends, amounting to a total payment of approximately $339.9 million.
This strategic financial
BREAKING: $SOFI updated RECORD Short Interest, per Fintel
209M shares sold short as of Mar 15, up from 154M in last Nasdaq filing.
23% short interest! 🤯
NASDAQ filing to follow shortly today.
Truth is, when $SOFI is at $9+, and I’m forced to average up, I feel underinvested.
I tell myself, I wish I bought more when it was $7. So when it’s $7 I want to stick to my own word and actually add more.
Because when it’s $9+ again I know I’ll feel better about it. 🤷🏻♂️
To everyone complaining that Michael Perito put a "Sell" rating on $SOFI because the stock "ran up too fast"
Don't worry!
SoFi is down 17% in the past 5 days.
If logic worked both ways, any day now KBW should upgrade to a "buy" rating because the stock "fell down too fast."
Thinking of selling almost all my positions and going all in on a 5 stock portfolio:
$TSLA
$SOFI
$U
$PINS
$CELH
These are by far the names that have the majority of my mind-share and conviction. Everything else, I don't really look at or am as bullish on.
Stay tuned.
Now rolling out: Zelle® + SoFi 💸
As one of the most requested SoFi features, we’re proud to share that we’re now rolling out Zelle® in the SoFi app! To make sure our members have the best experience, we’re introducing the feature over the coming weeks. Some eligible members
$SOFI Climbing the rankings FAST!
From 449th to 114th in a single year, increasing assets by 6x (2B -> 13.2B) and most recently moving into 90th place with over 17.7B in assets.
Just like
@anthonynoto
has repeated this year, "Top 10 Financial Institution...not IF but WHEN."
38k views on this
@CNBC
post asking for the world’s top fintech companies.
Every. Single. Response. is
@SoFi
I could not find a single other company mentioned scrolling the comments for over a minute.
Name a better community. I’ll wait. $SOFI
Noto closing remarks:
"I remain confident that no company is better positioned than SoFi...It's fair to conclude that SoFi is in a class of one."
$SOFI
Largest Shareholders of $SOFI Stock as of 9-30-2023.
Interesting to see these price averages & how many of these funds are underwater on their shares.
via u/Guddy7860 on Reddit
"SoFi has a company called Gemini which is a payment processing company"
This is the quality of so-called $SOFI analysts out there. This one from Schwab Network, literally could not even get Galileo's name right.
Mentioned virtually nothing on the growth, nothing on management
CEO Anthony Noto on $SOFI Q2 Earnings Call:
"Lending now stands at just 56% of revenue vs. 99% of revenue when I joined" (2018)
Diversification of revenue mix 🔥
Did anyone notice that $SOFI increased Financial services revenue +115% while increasing their directly attributable expenses by only 5%
This and more interesting tidbits coming in a mega SoFi Q4 earnings breakdown video which I hope to get out tomorrow morning.
FFIEC just updated top 100 U.S. banks by consolidated holdings. as of 12/31/23:
$SOFI jumped from
#78
to
#71
, knocking Credit Suisse $CS out of
#71
spot, per FFIEC.
Note: this jump is as of Dec 31, 2023, before the NBA was even announced.
FFIEC Report as of Dec 31:
$SOFI hit a 52-week low on Tuesday July 9 @ $6.15
The next day, CEO
@anthonynoto
went on CNBC and addressed bearish analysts, declining stock price, company guidance and upcoming tailwinds.
The stock is up 27% in the past 8 days, off the 52W lows.
Wow $SOFI Galileo...
8M new accounts
Contribution profit up 65% to 32M
Seems their strategy of going after big clients is working well & Mgmt is delivering on their promise of Tech platform boost by EOY
$SOFI's NBA Partnership is WAY bigger than I thought.
This is HOW SoFi Adds 1 MILLION New Members in 2024
- Branded marketing materials
- Halftime commercials
- SoFi Logo on All-Star Game
- Virality of Content via Social Media (Examples inside)
$SOFI is about the Release A HUGE Update, here's why:
SoFi generally deploys updates on a weekly basis. A deployment cadence is common for all software companies.
However, if you look at the recent versions, we had a big jump. (This is on the SoFi app in the iOS store)
Last
$SOFI
Arguably the most controversial comment in today’s interview, Noto thinks the Republican Party will be better for the economy and SoFi as a business.
Are we surprised he is not in support of the same president who’s constantly trying to cancel all student loans? 🤣
When asked election, I was a little surprised to see my guy Noto talk Republican. Figured he would just say that $SOFI would thrive no matter who is in office
My 12 Predictions for $SOFI in 2024! 🚀
1/ SoFi sees their first ever 1M new member addition quarter (current record: 717k new members) 📈
2/ SoFi hits 10 million overall members within the next 12 months. 🌐
3/ SoFi breaks into the 60th largest banks in the U.S. by assets