SoFi Technologies (NASDAQ:SOFI) Trading Up 1.9% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 1.9% during trading on Monday . The company traded as high as $17.75 and last traded at $17.65. 32,526,706 shares were traded during trading, a decline of 51% from the average daily volume of 66,027,734 shares. The stock had previously closed at $17.32.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Loop Capital started coverage on SoFi Technologies in a research report on Tuesday, September 8th. They issued a “hold” rating and a $22.00 price objective on the stock. Wells Fargo & Company decreased their target price on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Morgan Stanley lowered their target price on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Piper Sandler began coverage on shares of SoFi Technologies in a report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price target on the stock. Finally, Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.52.

SoFi Technologies Price Performance

The firm’s 50 day moving average price is $17.80 and its two-hundred day moving average price is $17.39. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The stock has a market cap of $22.05 billion, a PE ratio of 35.56, a P/E/G ratio of 1.45 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $0.08 EPS. SoFi Technologies’s revenue was up 42.5% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, research analysts expect that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of SoFi Technologies stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the transaction, the executive vice president directly owned 356,442 shares in the company, valued at approximately $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 34,382 shares of company stock valued at $602,349 over the last three months. 2.50% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of SoFi Technologies during the second quarter valued at about $1,298,925,000. Geode Capital Management LLC grew its stake 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 in the last quarter. Norges Bank purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $321,515,000. Bank of America Corp DE bought a new stake in SoFi Technologies during the 2nd quarter worth approximately $163,808,000. Finally, Dimensional Fund Advisors LP increased its holdings in SoFi Technologies by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock worth $144,539,000 after acquiring an additional 359,785 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.