SoFi Technologies (NASDAQ:SOFI) Trading Down 3.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares fell 3.1% on Thursday . The company traded as low as $17.22 and last traded at $17.32. 71,363,500 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 69,023,531 shares. The stock had previously closed at $17.87.

Analysts Set New Price Targets

Several analysts have recently commented on SOFI shares. Stephens reduced their price target on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Wells Fargo & Company cut their price objective on SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Citigroup reduced their target price on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 4th. Morgan Stanley set a $16.00 target price on shares of SoFi Technologies in a research report on Thursday, April 30th. Finally, TD Cowen lowered their price target on shares of SoFi Technologies from $24.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus target price of $22.78.

SoFi Technologies Stock Down 0.2%

The stock has a market capitalization of $22.17 billion, a PE ratio of 39.27 and a beta of 2.14. The firm has a 50 day moving average of $17.10 and a two-hundred day moving average of $19.16. 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 posted its earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.SoFi Technologies’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the transaction, the chief technology officer directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. This trade represents a 10.24% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Anthony Noto bought 15,545 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price 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 of the company’s stock, valued at $191,145,904. The trade was a 0.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 134,044 shares of company stock valued at $2,370,056 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $321,515,000. State Street Corp increased its stake in SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after purchasing an additional 5,708,053 shares during the last quarter. Marshall Wace LLP lifted its position in SoFi Technologies by 372.9% during the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock worth $174,116,000 after buying an additional 5,244,291 shares during the period. Vanguard Group Inc. lifted its position in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock worth $2,906,061,000 after buying an additional 3,900,895 shares during the period. Finally, Morgan Stanley boosted its stake in SoFi Technologies by 33.6% in the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after buying an additional 3,350,258 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.