SoFi Technologies (NASDAQ:SOFI) Trading Up 4.9% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 4.9% during mid-day trading on Thursday . The stock traded as high as $17.08 and last traded at $16.97. Approximately 68,738,062 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 63,724,191 shares. The stock had previously closed at $16.17.

SoFi Technologies News Summary

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

• Positive Sentiment: SoFi launched a native stablecoin feature for banking customers, giving the company a new crypto-adjacent product and a potential driver of user activity. SoFi launches native stablecoin to all its banking customers
• Positive Sentiment: Shares are benefiting from renewed enthusiasm around fintech and technical breakout buying, with traders pointing to strong momentum after a recent double-bottom setup. SoFi Shares Surge On Stablecoin Rollout: What Investors Need To Know
• Positive Sentiment: Analysts and market commentators say SoFi’s expanding ecosystem and rapid growth in members and products reinforce the company’s long-term growth story. SoFi’s Expanding Ecosystem Highlights Strong Growth Momentum
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for continued upside in the near term. SoFi surges 13%: Stablecoins, short squeezes, and the return of retail
• Neutral Sentiment: Coverage also notes SoFi has had a weak year overall, so the rally may reflect a rebound from depressed levels as much as fresh fundamental news. SoFi Stock Caps Off a Huge Week. Momentum Is Back.

Analyst Ratings Changes

A number of analysts have weighed in on SOFI shares. Citizens Jmp upgraded SoFi Technologies from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, February 9th. Argus started coverage on SoFi Technologies in a research note on Wednesday, April 15th. They issued a “hold” rating on the stock. Weiss Ratings cut SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $18.00 price target on shares of SoFi Technologies in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $16.00 price target on SoFi Technologies in a research note on Thursday, April 30th. Seven research 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, the stock has an average rating of “Hold” and a consensus price target of $22.56.

SoFi Technologies Stock Performance

The stock has a 50 day simple moving average of $16.69 and a two-hundred day simple moving average of $21.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of 41.41 and a beta of 2.12.

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

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 94,958 shares of SoFi Technologies stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the sale, the chief technology officer owned 839,640 shares in the company, valued at approximately $14,634,925.20. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Noto bought 15,545 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the transaction, the chief executive officer directly owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. This represents a 0.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 124,479 shares of company stock worth $2,163,556. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SOFI. Brighton Jones LLC grew its holdings in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after buying an additional 14,281 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of SoFi Technologies during the first quarter worth about $129,000. Empowered Funds LLC grew its holdings in shares of SoFi Technologies by 5.2% during the first quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock worth $385,000 after buying an additional 1,631 shares during the last quarter. Franklin Resources Inc. boosted its holdings in SoFi Technologies by 23.2% in the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock valued at $251,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in SoFi Technologies in the 2nd quarter valued at approximately $4,633,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.