SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.5% on Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 3.5% during mid-day trading on Monday following insider selling activity. The stock traded as low as $18.22 and last traded at $18.24. Approximately 32,347,459 shares changed hands during trading, a decline of 53% from the average daily volume of 68,588,609 shares. The stock had previously closed at $18.91.

Specifically, EVP Kelli Keough sold 11,286 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the sale, the executive vice president owned 356,442 shares of the company’s stock, valued at $6,415,956. This trade represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SOFI shares. Needham & Company LLC dropped their target price on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Stephens reduced their price objective on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Weiss Ratings raised SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, TD Cowen cut their price target on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target of $22.42.

SoFi Technologies Trading Up 4.2%

The company has a market capitalization of $24.54 billion, a P/E ratio of 39.58 and a beta of 2.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The stock has a fifty day moving average of $17.78 and a 200 day moving average of $17.58.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.08 earnings per share. The business’s quarterly revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in shares of SoFi Technologies by 6.5% in the second quarter. HighTower Advisors LLC now owns 126,362 shares of the company’s stock worth $2,266,000 after purchasing an additional 7,755 shares in the last quarter. Groupe la Francaise bought a new position in SoFi Technologies in the 2nd quarter worth $631,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in SoFi Technologies in the 2nd quarter worth $9,445,000. California State Teachers Retirement System raised its holdings in SoFi Technologies by 1,603.2% during the second quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock valued at $559,435,000 after acquiring an additional 29,369,164 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of SoFi Technologies in the second quarter valued at about $1,545,000. 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.