SoFi Technologies (NASDAQ:SOFI) Trading Down 3.3% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) fell 3.3% during trading on Tuesday . The stock traded as low as $16.94 and last traded at $17.07. 49,571,486 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 65,937,766 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Needham & Company LLC decreased their price target on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Mizuho dropped their price objective on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Truist Financial upped their price target on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.52.

SoFi Technologies Stock Down 3.3%

The business’s fifty day moving average price is $17.81 and its 200 day moving average price is $17.40. The firm has a market capitalization of $22.05 billion, a PE ratio of 35.56, a PEG ratio of 1.42 and a beta of 2.20. 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 released its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) 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 return on equity of 6.22% and a net margin of 14.78%.The company’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, equities research 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 SoFi Technologies 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 transaction of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares in the company, valued at approximately $6,415,956. The trade was a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This trade 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. In the last 90 days, insiders sold 136,505 shares of company stock valued at $2,418,096. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC lifted its holdings in SoFi Technologies by 39.0% during the 2nd quarter. Tidal Investments LLC now owns 538,067 shares of the company’s stock worth $9,648,000 after purchasing an additional 150,923 shares during the last quarter. Bienville Capital Management LLC bought a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $27,386,000. WINTON GROUP Ltd acquired a new stake in shares of SoFi Technologies during the second quarter worth $186,000. NorthRock Partners LLC lifted its stake in SoFi Technologies by 30.2% in the second quarter. NorthRock Partners LLC now owns 29,881 shares of the company’s stock valued at $536,000 after buying an additional 6,932 shares during the period. Finally, RFG Advisory LLC grew its holdings in SoFi Technologies by 14.9% in the second quarter. RFG Advisory LLC now owns 224,941 shares of the company’s stock worth $4,033,000 after purchasing an additional 29,103 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.