SoFi Technologies (NASDAQ:SOFI) Shares Down 1% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 1% on Tuesday. The company traded as low as $15.73 and last traded at $15.76. 38,612,467 shares changed hands during trading, a decline of 40% from the average session volume of 64,684,254 shares. The stock had previously closed at $15.92.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SOFI. Truist Financial lifted their price objective on shares of SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Loop Capital assumed coverage on SoFi Technologies in a report on Tuesday, September 8th. They set a “hold” rating and a $22.00 price target for the company. Wells Fargo & Company dropped their price objective on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Morgan Stanley reduced 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. Finally, Scotiabank initiated coverage on SoFi Technologies in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 target price for the company. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $22.50.

SoFi Technologies Stock Performance

The company has a market capitalization of $20.07 billion, a P/E ratio of 32.34, a PEG ratio of 1.31 and a beta of 2.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The company has a fifty day moving average price of $17.46 and a two-hundred day moving average price of $17.17.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data 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. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.08 EPS. The firm’s quarterly revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,286 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the sale, the executive vice president owned 356,442 shares of the company’s stock, valued at $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction on Monday, September 21st. The shares were sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the sale, the chief technology officer owned 912,650 shares of the company’s stock, valued at $15,971,375. The trade was a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 51,067 shares of company stock worth $890,716. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of SoFi Technologies during the second quarter worth $1,298,925,000. Bank of America Corp DE bought a new stake in SoFi Technologies during the second quarter valued at $163,808,000. Dimensional Fund Advisors LP boosted its position in SoFi Technologies by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock valued at $144,539,000 after acquiring an additional 359,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in SoFi Technologies by 2.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,689,426 shares of the company’s stock worth $90,348,000 after acquiring an additional 156,218 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of SoFi Technologies in the 2nd quarter worth about $93,937,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a financial technology company that provides digital financial services through its SoFi platform. Founded in 2011 as a student-loan refinancing business, the company has expanded into a broader digital banking and personal-finance provider serving consumers primarily in the United States.

SoFi offers products including personal loans, student-loan refinancing, home loans, checking and savings accounts, credit cards, investment accounts, and financial-planning tools.