SoFi Technologies (NASDAQ:SOFI) Trading Down 3.1% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares dropped 3.1% during trading on Thursday . The stock traded as low as $17.22 and last traded at $17.32. Approximately 71,363,500 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 69,023,531 shares. The stock had previously closed at $17.87.

SoFi Technologies News Summary

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

• Positive Sentiment: Investors are still bullish on SoFi’s long-term customer growth, with its membership base now approaching 15 million, supporting the view that the company’s expansion story is not over. SoFi Technologies: The Customer Growth Story Isn’t Over (NASDAQ: SOFI)
• Positive Sentiment: SoFi is being highlighted as a potential takeover target thanks to its 14.7 million members, national bank charter, more than $40 billion in deposits, and the scalable Galileo platform, which could keep investor interest elevated. Here’s Why SoFi Is a Prime Takeover Target for These Major Financial Players
• Positive Sentiment: Analysts and bulls say lower inflation could help rate-sensitive stocks like SoFi, since a friendlier rate backdrop can support lending activity and valuation multiples. CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks
• Neutral Sentiment: SoFi recently announced monthly distributions on its THTA ETF, a routine fund update that is unlikely to materially move the stock on its own. SoFi Announces Monthly Distributions on $THTA (10.00%)
• Neutral Sentiment: Several recent commentaries focus on SoFi’s upcoming July 29 earnings report, where investors will be watching deposit growth, non-lending revenue, credit quality, and guidance more than just an earnings beat. SoFi Could Beat In Q2 And Still Sell Off
• Negative Sentiment: SoFi has also been weighed down by weak recent stock performance and investor concern that even strong Q2 results may not be enough to reverse the broader selloff. SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: Here’s Why

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SOFI shares. Argus started coverage on shares of SoFi Technologies in a report on Wednesday, April 15th. They set a “hold” rating for the company. Truist Financial dropped their price objective on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, May 12th. Morgan Stanley set a $16.00 price objective on SoFi Technologies in a research report on Thursday, April 30th. TD Cowen lowered their target price on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.78.

SoFi Technologies Stock Down 3.1%

The firm’s 50-day simple moving average is $17.04 and its 200-day simple moving average is $19.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. The company has a market capitalization of $22.22 billion, a price-to-earnings ratio of 39.36 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS 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 6.25%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto acquired 15,545 shares of SoFi Technologies stock in a transaction on Monday, May 11th. The stock was bought at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the transaction, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $191,145,904. The trade was a 0.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies 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 sale, the chief technology officer directly owned 895,089 shares in the company, valued at $15,914,682.42. The trade was a 10.24% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 134,044 shares of company stock worth $2,370,056 over the last three months. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock worth $2,906,061,000 after buying an additional 3,900,895 shares in the last quarter. State Street Corp raised its stake in shares of SoFi Technologies by 6.7% in the 4th quarter. State Street Corp now owns 25,937,928 shares of the company’s stock valued at $679,055,000 after buying an additional 1,637,430 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SoFi Technologies by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock valued at $618,395,000 after buying an additional 1,951,248 shares in the last quarter. Morgan Stanley raised its stake in shares of SoFi Technologies by 33.6% in the 4th 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. Finally, Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter worth about $321,515,000. 38.43% of the stock is owned by 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.