SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.5% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 1.5% during trading on Wednesday. The company traded as high as $15.11 and last traded at $14.90. Approximately 33,354,838 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 63,715,406 shares. The stock had previously closed at $14.68.

Key SoFi Technologies News

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Tokenized deposit launch: SoFi introduced SoFi Earn, or SOFIE, a bank-issued tokenized deposit paying approximately 4.40% APY. Each token represents funds held at SoFi Bank, remains eligible for FDIC coverage and can reportedly be converted into SoFiUSD for crypto purchases or on-chain transfers. The product could attract idle crypto cash, increase deposits and strengthen SoFi’s position at the intersection of banking and digital assets. Reuters article
• Positive Sentiment: Additional cross-selling opportunity: SoFi partnered with Prudential Financial to make term life insurance available directly in its app to more than 15 million members. In-app quotes, applications and purchases could broaden SoFi’s product ecosystem and diversify revenue beyond lending. SoFi and Prudential partnership
• Neutral Sentiment: Earnings remain the key catalyst: Investors are awaiting SoFi’s third-quarter results for evidence that its strong revenue and earnings growth is continuing. The report could determine whether the new product launches translate into improving financial results. Zacks earnings preview
• Negative Sentiment: Insider selling and technical weakness: EVP Kelli Keough sold 10,203 shares worth about $150,000, reducing her holdings by 2.5%. The transaction was made under a pre-arranged Rule 10b5-1 plan, limiting its significance, but it adds to investor caution. SOFI also remains well below its 50-day and 200-day moving averages and near its 12-month low. Insider sale report

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of SoFi Technologies in a report on Monday, October 12th. Wells Fargo & Company lowered their target price on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Needham & Company LLC dropped their target price on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Finally, TD Cowen decreased their price target on shares of SoFi Technologies from $18.00 to $17.50 and set a “hold” rating for the company in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.05.

SoFi Technologies Trading Down 1.1%

The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $18.86 billion, a P/E ratio of 30.42, a P/E/G ratio of 0.86 and a beta of 2.33. The business’s fifty day simple moving average is $16.81 and its two-hundred day simple moving average is $17.09.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.08 EPS. The business’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. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.60 earnings per share for the current year.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 18,624 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the transaction, the chief technology officer owned 912,650 shares of the company’s stock, valued at $15,971,375. This represents a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 11,286 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 356,442 shares of the company’s stock, valued at $6,415,956. This represents a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 50,316 shares of company stock worth $852,605 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SOFI. BlackRock Inc. acquired a new position in shares of SoFi Technologies in the 2nd quarter worth approximately $1,298,925,000. Bank of America Corp DE bought a new position in shares of SoFi Technologies during the 2nd quarter worth approximately $163,808,000. D.A. Davidson & CO. lifted its position in shares of SoFi Technologies by 22.2% during the 1st quarter. D.A. Davidson & CO. now owns 267,848 shares of the company’s stock worth $4,253,000 after buying an additional 48,682 shares during the period. Illinois Municipal Retirement Fund boosted its stake in SoFi Technologies by 24.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 189,849 shares of the company’s stock valued at $3,015,000 after buying an additional 37,554 shares in the last quarter. Finally, Clare Market Investments LLC acquired a new stake in SoFi Technologies in the 1st quarter valued at $570,000. 38.43% of the stock is owned by institutional investors.

About SoFi Technologies

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.