SoFi Technologies (NASDAQ:SOFI) Shares Down 3.8% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price fell 3.8% during mid-day trading on Wednesday . The stock traded as low as $17.33 and last traded at $17.33. Approximately 35,662,505 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 66,639,680 shares. The stock had previously closed at $18.01.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Loop Capital started coverage on shares of SoFi Technologies in a report on Tuesday. They set a “hold” rating and a $22.00 target price on the stock. Scotiabank assumed coverage on SoFi Technologies in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 price objective on the stock. Morgan Stanley decreased their target price on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Mizuho lowered their target price on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Finally, Truist Financial boosted their price target on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.52.

SoFi Technologies Trading Down 3.8%

The firm has a market cap of $22.38 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 1.50 and a beta of 2.20. The business’s 50 day moving average is $17.89 and its 200-day moving average is $17.44. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The firm’s revenue was up 42.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the business’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 completion of the sale, the executive vice president directly owned 356,442 shares in the company, valued at approximately $6,415,956. The trade was a 3.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 that occurred on Wednesday, June 17th. The shares were 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 approximately $15,914,682.42. This represents a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 136,505 shares of company stock valued at $2,418,096 over the last quarter. Insiders own 2.50% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. BlackRock Inc. acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at about $1,298,925,000. California State Teachers Retirement System lifted its holdings in SoFi Technologies by 1,603.2% in the second quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock worth $559,435,000 after acquiring an additional 29,369,164 shares during the last quarter. Norges Bank acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $321,515,000. Bank of America Corp DE acquired a new position in SoFi Technologies in the second quarter valued at approximately $163,808,000. Finally, State Street Corp grew its holdings in shares of SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after purchasing an additional 5,708,053 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.