SoFi Technologies (NASDAQ:SOFI) Shares Up 2.8% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 2.8% during mid-day trading on Wednesday . The stock traded as high as $18.83 and last traded at $18.44. Approximately 80,867,505 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 67,949,758 shares. The stock had previously closed at $17.93.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $17.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Wells Fargo & Company cut their target price on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Stephens reduced their target price on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Keefe, Bruyette & Woods lowered their price objective on SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, April 9th. Finally, TD Cowen reduced their target price on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average price target of $22.56.

SoFi Technologies Price Performance

The firm has a 50-day simple moving average of $16.89 and a 200 day simple moving average of $19.78. The stock has a market capitalization of $23.40 billion, a P/E ratio of 41.46 and a beta of 2.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The company’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 10,954 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $17.35, for a total value of $190,051.90. Following the sale, the executive vice president directly owned 378,682 shares in the company, valued at $6,570,132.70. This represents a 2.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto acquired 15,545 shares of SoFi Technologies stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $248,720.00. Following the completion of the purchase, the chief executive officer owned 11,946,619 shares in the company, valued at approximately $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 have sold a total of 134,044 shares of company stock valued at $2,370,056 over the last ninety days. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after purchasing an additional 14,281 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of SoFi Technologies in the 1st quarter worth approximately $129,000. Empowered Funds LLC grew its stake in SoFi Technologies by 5.2% in the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock valued at $385,000 after purchasing an additional 1,631 shares during the period. Franklin Resources Inc. grew its position in SoFi Technologies by 23.2% during the second quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock valued at $251,000 after buying an additional 2,596 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of SoFi Technologies during the 2nd quarter valued at approximately $4,633,000. 38.43% of the stock is owned by institutional investors.

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.