New York, Feb 6, 2026, 08:24 EST — Premarket update.
- Shares of SoFi slipped roughly 6% in premarket trading, hitting $19.46.
- A JPMorgan filing revealed its stake dipped just under the 5% reporting threshold
- A SoFi executive purchased shares on Thursday, per a Form 4 filing
Shares of SoFi Technologies, Inc. dropped 6.2% in premarket trading on Friday, slipping $1.28 to $19.46 after closing Thursday at $20.74.
SOFI returns to the morning mover list, with traders weighing shifts in major shareholder stakes alongside hints of insider buying. This week hasn’t favored higher-beta stocks, despite stock index futures holding steady. Reuters
An updated Schedule 13G revealed that JPMorgan Chase & Co holds 47,207,186 shares of SoFi, representing 3.7% of the company’s common stock. The filing categorized the stake as “5 percent or less,” a cutoff that can exclude a holder from certain investor watchlists. SEC
JPMorgan’s earlier Schedule 13G reported ownership of 64,981,867 shares, representing 5.1% of the class as of Dec. 31. SEC
Separately, a Form 4 revealed that Eric Schuppenhauer, SoFi’s executive vice president in charge of the borrowing unit, picked up 5,000 shares at $19.93 each on Feb. 5. That deal boosted his direct stake to 228,767.81 shares, according to the filing. SEC
SoFi reported profit growth in the fourth quarter, driven by a sharp rise in fee-based revenue. Management highlighted a shift away from relying solely on lending spreads. CEO Anthony Noto also flagged potential gains for personal-loan lenders if Washington implements a proposed 10% cap on credit-card interest rates, warning it might trigger “a meaningful contraction in credit card lending.” Reuters
In premarket moves, other consumer fintech stocks showed a mixed picture. Affirm dropped around 4.3%, with PayPal sliding close to 2.8%.
For those following filings: a Schedule 13G is a brief ownership report typically filed by investors claiming passive stakes without control ambitions. Meanwhile, a Form 4 must be submitted whenever company insiders buy or sell shares.
The “insider buy” headline has its limits. One purchase might be minor compared to daily trading volume and doesn’t address bigger issues like consumer credit, funding costs, or how new lending rules might actually play out.
The next key macro hurdle for rate-sensitive stocks is the U.S. data calendar. The Bureau of Labor Statistics announced January’s employment report got pushed back due to the recent government shutdown and will now drop next Wednesday. The January CPI is scheduled for release the following Friday. Reuters
