SoFi Technologies (NASDAQ:SOFI) Trading 3.7% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 3.7% during trading on Tuesday . The company traded as high as $17.67 and last traded at $17.64. 84,772,346 shares traded hands during trading, an increase of 22% from the average session volume of 69,338,773 shares. The stock had previously closed at $17.01.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Truist Financial reduced their price objective on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, May 12th. Stephens decreased their target price on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Mizuho set a $29.00 target price on SoFi Technologies in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.78.

SoFi Technologies Price Performance

The firm’s 50-day moving average price is $17.11 and its two-hundred day moving average price is $19.04. The stock has a market cap of $22.63 billion, a PE ratio of 40.09 and a beta of 2.14. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17.

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

Insider Buying and Selling at SoFi Technologies

In related news, CEO Anthony Noto purchased 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, with a total value of $248,720.00. Following the transaction, the chief executive officer owned 11,946,619 shares in the company, valued at approximately $191,145,904. The trade was a 0.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares of the company’s stock, valued at $15,914,682.42. This trade represents a 10.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 124,302 shares of company stock valued at $2,182,523. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock valued at $2,906,061,000 after buying an additional 3,900,895 shares in the last quarter. State Street Corp lifted its position in SoFi Technologies by 6.7% during the fourth quarter. State Street Corp now owns 25,937,928 shares of the company’s stock valued at $679,055,000 after acquiring an additional 1,637,430 shares during the last quarter. Geode Capital Management LLC lifted its position in SoFi Technologies by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock valued at $618,395,000 after acquiring an additional 1,951,248 shares during the last quarter. Morgan Stanley boosted its stake in SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after acquiring an additional 3,350,258 shares in the last quarter. Finally, Norges Bank acquired a new stake in SoFi Technologies in the fourth quarter valued at approximately $321,515,000. 38.43% of the stock is currently owned by institutional investors.

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.