SoFi Technologies (NASDAQ:SOFI) Shares Down 2.4% – Here’s Why

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 2.4% on Wednesday . The company traded as low as $18.23 and last traded at $18.25. 56,471,166 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 70,569,414 shares. The stock had previously closed at $18.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SOFI shares. Wells Fargo & Company reduced their target price on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Weiss Ratings lowered SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Citigroup reduced their price objective on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. TD Cowen lowered their target price on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Finally, Argus assumed coverage on SoFi Technologies in a research note on Wednesday, April 15th. They set a “hold” rating for the company. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.38.

SoFi Technologies Stock Up 1.5%

The firm’s fifty day simple moving average is $17.45 and its 200 day simple moving average is $18.13. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 38.29 and a beta of 2.17.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.39%. The company’s revenue was up 42.5% on a year-over-year basis. During the same period last year, the business earned $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto acquired 15,545 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares in the company, valued at $191,145,904. The trade was a 0.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 102,123 shares of the firm’s stock in a transaction dated 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 directly owned 895,089 shares in the company, valued at $15,914,682.42. This trade represents a 10.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 135,256 shares of company stock valued at $2,370,822 in the last ninety days. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently added to or reduced their stakes in SOFI. Valley Wealth Managers Inc. acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $25,000. Blue Trust Inc. raised its stake in SoFi Technologies by 655.2% during the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after acquiring an additional 878 shares in the last quarter. Vermillion Wealth Management Inc. lifted 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 acquiring an additional 739 shares during the last quarter. Reflection Asset Management purchased a new stake in SoFi Technologies in the fourth quarter valued at $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in SoFi Technologies in the fourth quarter valued at $29,000. 38.43% of the stock is currently owned by hedge funds and other 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.