SoFi Technologies (NASDAQ:SOFI) Trading Down 2.6% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price fell 2.6% during trading on Friday . The stock traded as low as $15.38 and last traded at $15.61. 49,359,745 shares were traded during mid-day trading, a decline of 23% from the average session volume of 63,844,285 shares. The stock had previously closed at $16.02.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SOFI. Truist Financial lowered their price objective on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods lowered their price objective on SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, April 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $17.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Citigroup reduced their target price on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings raised SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $22.56.

SoFi Technologies Stock Down 2.6%

The company has a 50 day simple moving average of $17.10 and a two-hundred day simple moving average of $22.60. The company has a quick ratio of 0.18, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $20.02 billion, a P/E ratio of 35.48 and a beta of 2.12.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 9,742 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $19.25, for a total value of $187,533.50. Following the sale, the executive vice president owned 333,284 shares of the company’s stock, valued at approximately $6,415,717. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto bought 15,545 shares of SoFi Technologies stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $248,720.00. Following the purchase, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. This trade represents a 0.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 124,197 shares of company stock valued at $2,191,758. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $25,000. Blue Trust Inc. grew its stake in shares of SoFi Technologies by 655.2% during the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock valued at $26,000 after buying an additional 878 shares during the last quarter. Vermillion Wealth Management Inc. grew its stake in shares of SoFi Technologies by 283.1% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after buying an additional 739 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $28,000. Finally, Reflection Asset Management bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.