SoFi Technologies (NASDAQ:SOFI) Trading Down 1.6% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded down 1.6% on Wednesday . The company traded as low as $17.36 and last traded at $17.42. 120,367,116 shares traded hands during mid-day trading, an increase of 81% from the average session volume of 66,486,258 shares. The stock had previously closed at $17.71.

Key SoFi Technologies News

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: SoFi helped retail customers gain access to the SpaceX IPO, boosting its profile and potentially increasing platform activity as the company expands its investing offering. SoFi (SOFI) Opened SpaceX IPO Access To Retail Investors Through Its Platform
• Positive Sentiment: CEO Anthony Noto bought more SoFi shares again, which can signal insider confidence in the company’s outlook. SoFi CEO Buys Shares for the Fifth Time This Year
• Positive Sentiment: Analysts highlighted SoFi’s growing product ecosystem and cross-buy trends, which support deeper customer relationships and better economics over time. SoFi’s Productivity Loop Strengthens Customer Relationships
• Neutral Sentiment: Recent commentary continues to argue that SoFi’s financial results are improving, with record revenue and continued GAAP profitability, but the market is still questioning the stock’s valuation and book-value accounting. SOFI: The Market Distrusts The Book, The Numbers Say Otherwise
• Negative Sentiment: Despite the positive headlines, multiple reports note that SoFi shares have been under heavy pressure this year and remain well below recent highs, suggesting investors still have concerns about valuation and execution. Here’s What’s Behind SoFi’s Big Decline — and What You Should Do About It

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stephens reduced their price objective on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Mizuho set a $29.00 price objective on shares of SoFi Technologies in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods cut their target price on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, April 9th. TD Cowen cut their target price on shares of 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, Barclays cut their target price on shares of SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.56.

SoFi Technologies Trading Down 1.6%

The stock has a market capitalization of $22.35 billion, a price-to-earnings ratio of 39.59 and a beta of 2.14. The company’s 50 day moving average is $16.87 and its 200 day moving average is $20.67. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results 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 analysts’ expectations of $1.05 billion. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

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 stock was bought at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the purchase, the chief executive officer owned 11,946,619 shares in the company, valued at $191,145,904. This represents a 0.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,037 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $15.53, for a total transaction of $155,874.61. Following the completion of the transaction, the executive vice president owned 323,247 shares of the company’s stock, valued at approximately $5,020,025.91. This represents a 3.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 29,521 shares of company stock valued at $508,438. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock valued at $2,829,640,000 after buying an additional 6,814,727 shares in the last quarter. Firsthand Capital Management Inc. increased its position in shares of SoFi Technologies by 60.0% during the 3rd quarter. Firsthand Capital Management Inc. now owns 80,000 shares of the company’s stock worth $2,114,000 after purchasing an additional 30,000 shares in the last quarter. SG Americas Securities LLC increased its position in shares of SoFi Technologies by 161.6% during the 4th quarter. SG Americas Securities LLC now owns 902,392 shares of the company’s stock worth $23,625,000 after purchasing an additional 557,390 shares in the last quarter. North Dakota State Investment Board acquired a new stake in shares of SoFi Technologies during the 4th quarter worth about $1,044,000. Finally, Thoroughbred Financial Services LLC increased its position in shares of SoFi Technologies by 212.2% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 40,140 shares of the company’s stock worth $1,060,000 after purchasing an additional 27,283 shares in the last quarter. 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.