SoFi Technologies (NASDAQ:SOFI) Shares Down 3.7% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price dropped 3.7% during trading on Wednesday . The stock traded as low as $17.76 and last traded at $17.87. Approximately 71,879,935 shares traded hands during trading, an increase of 4% from the average daily volume of 69,001,992 shares. The stock had previously closed at $18.55.

Analysts Set New Price Targets

SOFI has been the subject of a number of analyst reports. Mizuho set a $29.00 price target on SoFi Technologies in a research report on Wednesday, May 6th. 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, May 12th. UBS Group decreased their target price on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $18.00 price target on shares of SoFi Technologies in a report on Thursday, April 30th. Finally, Needham & Company LLC dropped their price target on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.78.

SoFi Technologies Stock Performance

The firm’s fifty day moving average price is $17.07 and its 200-day moving average price is $19.17. The company has a market cap of $22.22 billion, a P/E ratio of 39.36 and a beta of 2.14. 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 released its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief technology officer directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 SoFi Technologies stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $16.00 per share, with a total value of $248,720.00. Following the completion of the transaction, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 134,044 shares of company stock worth $2,370,056. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in SoFi Technologies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock valued at $2,906,061,000 after purchasing an additional 3,900,895 shares during the period. State Street Corp lifted its holdings in SoFi Technologies by 6.7% in the fourth quarter. State Street Corp now owns 25,937,928 shares of the company’s stock valued at $679,055,000 after buying an additional 1,637,430 shares during the period. Geode Capital Management LLC lifted its holdings in SoFi Technologies by 9.0% in the fourth 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 period. Morgan Stanley boosted its stake in SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after acquiring an additional 3,350,258 shares during the last quarter. Finally, Norges Bank bought a new position in SoFi Technologies in the fourth quarter valued at approximately $321,515,000. 38.43% of the stock is owned by 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.