SoFi Technologies (NASDAQ:SOFI) Stock Price Down 8% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 8% during trading on Tuesday . The stock traded as low as $26.03 and last traded at $26.9370. 118,737,127 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 82,501,156 shares. The stock had previously closed at $29.28.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. UBS Group boosted their price objective on SoFi Technologies from $20.50 to $27.50 and gave the company a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Citigroup lifted their price target on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $35.00 price target on shares of SoFi Technologies in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.50.

SoFi Technologies Stock Up 2.7%

The company has a market cap of $33.43 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 1.69 and a beta of 1.92. The business has a fifty day moving average of $27.83 and a two-hundred day moving average of $25.44. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.SoFi Technologies’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the sale, the insider owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. The trade was a 25.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 91,837 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the transaction, the chief technology officer directly owned 794,598 shares in the company, valued at approximately $21,168,090.72. The trade was a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 167,813 shares of company stock valued at $4,403,334. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in SoFi Technologies by 12.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company’s stock valued at $88,864,000 after acquiring an additional 540,610 shares in the last quarter. Sullivan Wood Capital Management LLC acquired a new stake in shares of SoFi Technologies during the second quarter worth about $2,799,000. Blair William & Co. IL lifted its holdings in shares of SoFi Technologies by 443.9% in the 2nd quarter. Blair William & Co. IL now owns 335,698 shares of the company’s stock valued at $6,113,000 after purchasing an additional 273,972 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $209,000. Finally, Quantbot Technologies LP acquired a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $25,699,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.