SoFi Technologies (NASDAQ:SOFI) Trading Down 1.2% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded down 1.2% on Friday . The company traded as low as $26.01 and last traded at $26.13. 40,402,670 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 55,513,633 shares. The stock had previously closed at $26.44.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SOFI. Citigroup lifted their price objective on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley lifted their price target on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Needham & Company LLC boosted their price target on shares of SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group dropped their price objective on shares of SoFi Technologies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, January 6th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $35.00 target price on shares of SoFi Technologies in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $25.50.

SoFi Technologies Stock Down 1.2%

The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.63 and a beta of 1.92. 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 firm’s 50-day simple moving average is $27.51 and its two-hundred day simple moving average is $25.94.

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

Insider Activity

In related news, EVP Kelli Keough sold 9,468 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $27.14, for a total value of $256,961.52. Following the transaction, the executive vice president owned 312,948 shares in the company, valued at $8,493,408.72. This trade represents a 2.94% 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, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction dated 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 directly owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 167,813 shares of company stock valued at $4,403,334. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of SoFi Technologies by 655.2% during the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after buying an additional 878 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in SoFi Technologies during the 4th quarter worth $28,000. Salomon & Ludwin LLC bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $29,000. SJS Investment Consulting Inc. raised its position in shares of SoFi Technologies by 840.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its stake in shares of SoFi Technologies by 693.5% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company’s stock valued at $32,000 after purchasing an additional 1,075 shares during the period. Institutional investors 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.