SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.6% After Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 1.6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $17.36 and last traded at $17.42. 120,367,116 shares were traded during trading, an increase of 81% from the average session volume of 66,486,258 shares. The stock had previously closed at $17.71.

Specifically, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the sale, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Needham & Company LLC cut their target price on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Citigroup cut their price objective on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $18.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Stephens cut their price target on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.56.

SoFi Technologies Price Performance

The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 40.71 and a beta of 2.14. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $16.93 and a 200 day moving average price of $20.51.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The firm’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $321,515,000. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 6.8% in the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock valued at $2,829,640,000 after buying an additional 6,814,727 shares during the period. State Street Corp lifted its holdings in SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after buying an additional 5,708,053 shares during the period. Marshall Wace LLP boosted its stake in SoFi Technologies by 372.9% in the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock valued at $174,116,000 after acquiring an additional 5,244,291 shares during the last quarter. Finally, Morgan Stanley grew its holdings in SoFi Technologies by 33.6% during the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after acquiring an additional 3,350,258 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.