SoFi Technologies (NASDAQ:SOFI) Trading Down 3.5% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price dropped 3.5% during mid-day trading on Monday . The stock traded as low as $18.22 and last traded at $18.24. 32,347,459 shares traded hands during trading, a decline of 53% from the average session volume of 68,588,609 shares. The stock had previously closed at $18.91.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SOFI. Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. UBS Group dropped their target price on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Stephens lowered their target price on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Piper Sandler assumed coverage on SoFi Technologies in a research report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Citigroup reduced their target price on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $22.42.

SoFi Technologies Price Performance

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 fifty day simple moving average of $17.73 and a 200-day simple moving average of $17.61. The company has a market capitalization of $23.56 billion, a price-to-earnings ratio of 38.00 and a beta of 2.17.

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

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the transaction, the chief technology officer owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, EVP Kelli Keough sold 10,954 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $17.19, for a total transaction of $188,299.26. Following the sale, the executive vice president directly owned 367,728 shares in the company, valued at approximately $6,321,244.32. The trade was a 2.89% 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. Insiders sold 125,219 shares of company stock valued at $2,214,948 in the last ninety days. 2.50% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently bought and sold shares of the business. Valley Wealth Managers Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $25,000. Vermillion Wealth Management Inc. increased its holdings in SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after acquiring an additional 739 shares in the last quarter. Reflection Asset Management acquired a new position in SoFi Technologies during the fourth quarter worth $28,000. American Capital Advisory LLC raised its position in SoFi Technologies by 456.7% during the fourth quarter. American Capital Advisory LLC now owns 1,297 shares of the company’s stock worth $34,000 after acquiring an additional 1,064 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in SoFi Technologies by 232.1% during the first quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company’s stock valued at $34,000 after purchasing an additional 1,467 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

About SoFi Technologies

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.