SoFi Technologies (NASDAQ:SOFI) Trading Down 1.1% After Analyst Downgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) fell 1.1% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $37.00 to $30.00. Citigroup currently has a buy rating on the stock. SoFi Technologies traded as low as $15.94 and last traded at $16.02. 52,930,250 shares were traded during mid-day trading, a decline of 17% from the average session volume of 64,129,410 shares. The stock had previously closed at $16.20.

A number of other brokerages have also recently issued reports on SOFI. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $17.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. UBS Group dropped their target price on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Wells Fargo & Company lowered their price target on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Morgan Stanley set a $16.00 price target on shares of SoFi Technologies in a report on Thursday, April 30th. Finally, Barclays lowered their price target on shares of SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Seven investment 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’s stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $23.22.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, General Counsel Robert S. Lavet bought 5,000 shares of the stock in a transaction dated Friday, February 6th. The shares were bought at an average cost of $21.04 per share, with a total value of $105,200.00. Following the completion of the acquisition, the general counsel owned 17,172 shares of the company’s stock, valued at $361,298.88. This trade represents a 41.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,755 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $18.87, for a total transaction of $184,076.85. Following the transaction, the executive vice president directly owned 293,725 shares in the company, valued at $5,542,590.75. This represents a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 38,900 shares of company stock worth $705,398 and sold 218,422 shares worth $4,105,468. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. Norges Bank acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $321,515,000. Vanguard Group Inc. boosted its position in SoFi Technologies by 6.8% in the third 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. State Street Corp boosted its position in SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after buying an additional 5,708,053 shares in the last quarter. Marshall Wace LLP boosted its position in SoFi Technologies by 372.9% in the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock valued at $174,116,000 after buying an additional 5,244,291 shares in the last quarter. Finally, Morgan Stanley boosted its position in SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after buying an additional 3,350,258 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.78 and a quick ratio of 0.18. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 36.41 and a beta of 2.12. The business’s 50-day simple moving average is $17.59 and its two-hundred day simple moving average is $23.32.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.63%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

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.