SoFi Technologies (NASDAQ:SOFI) Shares Down 2.8% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 2.8% on Tuesday . The company traded as low as $26.55 and last traded at $26.83. 57,345,922 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 64,543,137 shares. The stock had previously closed at $27.61.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BTIG Research reaffirmed a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. The Goldman Sachs Group raised their price target on SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.69.

SoFi Technologies Trading Down 2.8%

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The firm has a market capitalization of $32.35 billion, a PE ratio of 49.69 and a beta of 1.93. The company has a fifty day moving average of $28.20 and a 200-day moving average of $23.53.

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

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the completion of the transaction, the executive vice president owned 265,034 shares of the company’s stock, valued at $7,004,848.62. This trade represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 175,277 shares of company stock worth $4,694,595. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in SoFi Technologies in the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies in the 1st quarter valued at $28,000. Salomon & Ludwin LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth approximately $29,000. SJS Investment Consulting Inc. boosted its stake in shares of SoFi Technologies by 840.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares during the period. Finally, Strategic Investment Solutions Inc. IL grew its stake in shares of SoFi Technologies by 693.5% during the third quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company’s stock worth $32,000 after purchasing an additional 1,075 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.