SoFi Technologies (NASDAQ:SOFI) Trading Down 2.6% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded down 2.6% during mid-day trading on Friday . The stock traded as low as $15.38 and last traded at $15.61. 49,359,745 shares were traded during trading, a decline of 23% from the average session volume of 63,844,285 shares. The stock had previously closed at $16.02.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SOFI shares. TD Cowen reduced their target price on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, April 30th. Wells Fargo & Company reduced their target price on SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Weiss Ratings raised SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised SoFi Technologies from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a report on Tuesday, February 3rd. Finally, Truist Financial reduced their target price on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $22.56.

SoFi Technologies Trading Down 2.6%

The company has a 50 day simple moving average of $17.16 and a 200 day simple moving average of $22.65. The company has a current ratio of 0.75, a quick ratio of 0.18 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $19.91 billion, a PE ratio of 35.48 and a beta of 2.12.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $1.09 billion during 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%.The firm’s revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Analysts predict that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 94,958 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the completion of the sale, the chief technology officer directly owned 839,640 shares of the company’s stock, valued at $14,634,925.20. This represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,742 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $19.25, for a total value of $187,533.50. Following the transaction, the executive vice president directly owned 333,284 shares of the company’s stock, valued at approximately $6,415,717. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 124,197 shares of company stock valued at $2,191,758 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently made changes to their positions in the business. Valley Wealth Managers Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $25,000. Blue Trust Inc. boosted its holdings in SoFi Technologies by 655.2% in the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock valued at $26,000 after acquiring an additional 878 shares during the last quarter. Vermillion Wealth Management Inc. raised its position in SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after purchasing an additional 739 shares during the period. Central Pacific Bank Trust Division purchased a new position in SoFi Technologies in the fourth quarter valued at about $28,000. Finally, Reflection Asset Management purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.