SoFi Technologies (NASDAQ:SOFI) Trading Down 2.9% – Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 2.9% on Monday . The stock traded as low as $26.20 and last traded at $26.60. Approximately 48,802,899 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 62,218,520 shares. The stock had previously closed at $27.40.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial cut their price target on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, November 25th. UBS Group boosted their price objective on shares of SoFi Technologies from $20.50 to $27.50 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Bank of America assumed coverage on shares of SoFi Technologies in a report on Tuesday, January 6th. They issued an “underperform” rating and a $20.50 target price on the stock. Finally, Needham & Company LLC increased their price target on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $25.50.

SoFi Technologies Stock Down 2.9%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The company has a market capitalization of $32.08 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.92. The firm’s 50-day simple moving average is $27.68 and its 200 day simple moving average is $25.75.

SoFi Technologies (NASDAQ:SOFI) last announced 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. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The firm had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. During the same quarter last year, the business earned $0.05 earnings per share. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC increased its holdings in SoFi Technologies by 40.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,255 shares of the company’s stock valued at $844,000 after acquiring an additional 9,077 shares in the last quarter. Traynor Capital Management Inc. raised its position in shares of SoFi Technologies by 4.5% during the 4th quarter. Traynor Capital Management Inc. now owns 24,703 shares of the company’s stock worth $647,000 after purchasing an additional 1,073 shares during the last quarter. Thrive Wealth Management LLC lifted its stake in SoFi Technologies by 2.8% in the 4th quarter. Thrive Wealth Management LLC now owns 19,492 shares of the company’s stock valued at $510,000 after buying an additional 535 shares in the last quarter. David J Yvars Group grew its holdings in SoFi Technologies by 12.5% during the 4th quarter. David J Yvars Group now owns 13,300 shares of the company’s stock valued at $348,000 after buying an additional 1,480 shares during the last quarter. Finally, Focus Financial Network Inc. grew its holdings in SoFi Technologies by 27.1% during the 4th quarter. Focus Financial Network Inc. now owns 11,317 shares of the company’s stock valued at $296,000 after buying an additional 2,411 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.