SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.2% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares dropped 1.2% on Wednesday. The company traded as low as $15.71 and last traded at $15.72. Approximately 40,372,102 shares were traded during trading, a decline of 38% from the average daily volume of 65,134,258 shares. The stock had previously closed at $15.91.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SOFI shares. Truist Financial boosted their price objective on shares of SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Piper Sandler started coverage on SoFi Technologies in a research note on Monday, August 17th. They issued an “overweight” rating and a $22.00 price target on the stock. Weiss Ratings raised SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Scotiabank started coverage on SoFi Technologies in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.52.

SoFi Technologies Price Performance

The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.33 and a beta of 2.20. The company has a 50 day simple moving average of $17.55 and a 200-day simple moving average of $17.25. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.08 EPS. The business’s quarterly revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the sale, the executive vice president owned 356,442 shares of the company’s stock, valued at $6,415,956. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of SoFi Technologies stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the sale, the chief technology officer owned 912,650 shares in the company, valued at approximately $15,971,375. This represents a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 51,067 shares of company stock valued at $890,716 in the last 90 days. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. BlackRock Inc. bought a new position in SoFi Technologies in the 2nd quarter worth approximately $1,298,925,000. Norges Bank bought a new position in shares of SoFi Technologies in the fourth quarter worth $321,515,000. Bank of America Corp DE acquired a new position in shares of SoFi Technologies during the second quarter valued at $163,808,000. Dimensional Fund Advisors LP raised its stake in shares of SoFi Technologies by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock valued at $144,539,000 after purchasing an additional 359,785 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of SoFi Technologies by 2.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,689,426 shares of the company’s stock worth $90,348,000 after acquiring an additional 156,218 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services through its SoFi platform. Founded in 2011 as a student-loan refinancing business, the company has expanded into a broader digital banking and personal-finance provider serving consumers primarily in the United States.

SoFi offers products including personal loans, student-loan refinancing, home loans, checking and savings accounts, credit cards, investment accounts, and financial-planning tools.