SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.6% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 1.6% during trading on Friday . The stock traded as low as $17.96 and last traded at $18.22. Approximately 28,506,922 shares were traded during trading, a decline of 57% from the average session volume of 67,031,250 shares. The stock had previously closed at $18.51.

SoFi Technologies News Roundup

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

• Positive Sentiment: Expanded crypto and payments partnership: Payward, the parent company of Kraken, will access SoFi’s banking infrastructure, join the SoFi Exchange Network and provide digital-asset liquidity through Kraken Prime. Kraken is also expected to list SoFiUSD, giving SoFi’s stablecoin broader distribution and potentially increasing transaction activity, dollar clearing and fee opportunities. SoFi Technologies Teams Up With Payward: Will SoFiUSD Gain Traction?
• Positive Sentiment: Scotiabank begins coverage with an Outperform rating: The bank initiated coverage on SOFI with a $25 price target, implying substantial upside from recent trading levels and adding institutional support to the investment case. Scotiabank initiates coverage of SoFi Technologies
• Positive Sentiment: Growth outlook remains attractive: Recent commentary highlights record revenue, member growth, rising cross-selling and a record 1.54 products per member. Optimistic projections call for significant revenue and earnings expansion through 2030, suggesting the stock’s decline from its peak may have created longer-term value. SoFi Technologies: Shares Are Flat So I’m Accumulating More
• Neutral Sentiment: Fundamentals have been strong, but execution is key: SoFi recently exceeded quarterly EPS and revenue expectations, with revenue rising 42.5% year over year. Investors will likely look for continued growth and progress monetizing SoFiUSD, banking services and digital assets.
• Negative Sentiment: Valuation and volatility remain risks: SOFI trades at a relatively elevated earnings multiple, and one analyst cited by Stocktwits still sees roughly 13% downside despite calling the Kraken agreement positive. The shares also remain well below their November 2025 record, indicating that investors continue to question whether rapid growth can justify the premium valuation. SoFi’s Kraken Deal Grows Its Stablecoin Reach

Analysts Set New Price Targets

Several analysts have recently commented on SOFI shares. Piper Sandler started coverage on shares of SoFi Technologies in a research report on Monday, August 17th. They set an “overweight” rating and a $22.00 price objective for the company. Mizuho cut their target price on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Morgan Stanley reduced their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC cut their price objective on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $22.55.

SoFi Technologies Trading Down 1.6%

The firm’s 50-day moving average is $17.88 and its 200-day moving average is $17.47. 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 firm has a market cap of $23.53 billion, a price-to-earnings ratio of 37.96, a P/E/G ratio of 1.47 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s 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, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, 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 transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares of the company’s stock, valued at $15,914,682.42. This trade represents a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 136,505 shares of company stock worth $2,418,096 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of SoFi Technologies in the second quarter valued at about $1,298,925,000. California State Teachers Retirement System boosted its holdings in SoFi Technologies by 1,603.2% during the second quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock worth $559,435,000 after purchasing an additional 29,369,164 shares during the last quarter. State Street Corp grew its position in SoFi Technologies by 6.7% in the 4th quarter. State Street Corp now owns 25,937,928 shares of the company’s stock worth $679,055,000 after purchasing an additional 1,637,430 shares in the last quarter. Geode Capital Management LLC increased its stake in SoFi Technologies by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock valued at $618,395,000 after buying an additional 1,951,248 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of SoFi Technologies by 33.6% during 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 in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.