SoFi Technologies (NASDAQ:SOFI) Shares Down 1.6% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 1.6% during trading on Monday . The company traded as low as $16.97 and last traded at $17.01. Approximately 80,508,499 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 69,266,320 shares. The stock had previously closed at $17.28.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SOFI shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $18.00 target price on shares of SoFi Technologies in a research note on Thursday, April 30th. Truist Financial lowered their price target on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, May 12th. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Wells Fargo & Company cut their price objective on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, UBS Group decreased their target price on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average target price of $22.78.

SoFi Technologies Trading Down 1.6%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 38.66 and a beta of 2.14. The business has a fifty day moving average price of $17.10 and a 200 day moving average price of $19.11.

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

Insider Transactions at SoFi Technologies

In other news, CEO Anthony Noto bought 15,545 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 10,954 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $17.35, for a total transaction of $190,051.90. Following the sale, the executive vice president directly owned 378,682 shares of the company’s stock, valued at approximately $6,570,132.70. This trade represents a 2.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 134,044 shares of company stock worth $2,370,056 in the last three months. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Valley Wealth Managers Inc. purchased a new position in shares of SoFi Technologies in the 4th quarter valued at $25,000. Vermillion Wealth Management Inc. boosted its position in SoFi Technologies by 283.1% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 739 shares during the period. Blue Trust Inc. boosted its position in SoFi Technologies by 655.2% during the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after purchasing an additional 878 shares during the period. Reflection Asset Management acquired a new stake in SoFi Technologies in the 4th quarter valued at $28,000. Finally, Central Pacific Bank Trust Division acquired a new stake in SoFi Technologies in the 4th quarter valued at $28,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.