SoFi Technologies (NASDAQ:SOFI) Trading Down 4.6% – Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 4.6% on Tuesday . The company traded as low as $16.98 and last traded at $17.05. 41,474,626 shares were traded during trading, a decline of 39% from the average session volume of 67,557,211 shares. The stock had previously closed at $17.88.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Weiss Ratings upgraded SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Morgan Stanley reduced their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Citigroup dropped their price objective on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Finally, Truist Financial lifted their target price 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. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.42.

SoFi Technologies Trading Down 4.6%

The company has a market cap of $22.02 billion, a price-to-earnings ratio of 35.52 and a beta of 2.17. The company’s 50 day moving average price is $17.85 and its 200 day moving average price is $17.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. SoFi Technologies’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Research analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Activity

In related news, CTO Jeremy Rishel sold 102,123 shares of the business’s 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 completion of the sale, the chief technology officer directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, EVP Kelli Keough sold 11,286 shares of the company’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 value of $203,148.00. Following the sale, the executive vice president directly owned 356,442 shares of the company’s stock, valued at $6,415,956. The trade was a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 136,505 shares of company stock valued at $2,418,096. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of SOFI. BlackRock Inc. acquired a new stake in shares of SoFi Technologies in the second quarter worth $1,298,925,000. California State Teachers Retirement System grew its stake in SoFi Technologies by 1,603.2% in the 2nd quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock valued at $559,435,000 after buying an additional 29,369,164 shares during the last quarter. Norges Bank bought a new position in SoFi Technologies in the 4th quarter worth $321,515,000. Bank of America Corp DE bought a new position in SoFi Technologies in the 2nd quarter worth $163,808,000. Finally, State Street Corp lifted its position in SoFi Technologies by 30.7% during the 3rd quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after acquiring an additional 5,708,053 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

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.