SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 1% during trading on Tuesday. The stock traded as low as $15.73 and last traded at $15.76. 38,612,467 shares were traded during trading, a decline of 40% from the average session volume of 64,684,254 shares. The stock had previously closed at $15.92.

Key Headlines Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: SoFi’s second-quarter performance provides a fundamental support for the stock: revenue increased about 40% year over year, while personal-loan originations reached a record $10.7 billion, up nearly 53%. SoFi loan platform growth article
• Positive Sentiment: Customer engagement is improving: SoFi added twice as many products as members in the quarter, suggesting that existing customers are using more services. The company now has approximately 15.8 million members, supporting cross-selling and potential operating leverage. SoFi revenue and product growth article
• Positive Sentiment: Investors are watching for additional growth catalysts ahead of SoFi’s October 27 earnings report. Recent earnings exceeded expectations, and analysts see the loan-platform business and other potential growth engines as catalysts that may not yet be fully reflected in the share price. SoFi growth engine article
• Neutral Sentiment: The October 27 results will be an important near-term event. Investors will look for continued revenue growth, loan demand, member monetization and confirmation that profitability guidance remains achievable. SoFi October 27 earnings preview
• Negative Sentiment: Rising bond yields and broader pressure on bank stocks have weighed on SoFi, highlighting concerns about funding costs, loan demand and the sensitivity of its lending business to interest rates. SoFi rate pressure article
• Negative Sentiment: Even after the selloff, SoFi trades at a premium to many financial-sector peers. That valuation leaves the stock vulnerable if growth slows, credit conditions deteriorate or the October earnings report fails to provide stronger forward guidance. SoFi valuation article

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Scotiabank initiated coverage on shares of SoFi Technologies in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 price target for the company. Mizuho lowered their price objective on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. TD Cowen reduced their target price on shares of SoFi Technologies from $18.00 to $17.50 and set a “hold” rating for the company in a report on Tuesday. Finally, Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $22.50.

SoFi Technologies Stock Down 1.0%

The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 1.32 and a beta of 2.33. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The firm’s 50 day simple moving average is $17.47 and its 200-day simple moving average is $17.19.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was up 42.5% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the transaction, the chief technology officer owned 912,650 shares in the company, valued at $15,971,375. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 51,067 shares of company stock valued at $890,716 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its stake in shares of SoFi Technologies by 44.2% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 2,248 shares of the company’s stock worth $35,000 after acquiring an additional 689 shares in the last quarter. QRG Capital Management Inc. increased its stake in SoFi Technologies by 5.8% in the 2nd quarter. QRG Capital Management Inc. now owns 154,404 shares of the company’s stock valued at $2,769,000 after purchasing an additional 8,449 shares in the last quarter. Reynders McVeigh Capital Management LLC raised its holdings in SoFi Technologies by 2.6% during the second quarter. Reynders McVeigh Capital Management LLC now owns 699,538 shares of the company’s stock worth $12,543,000 after purchasing an additional 17,744 shares during the last quarter. Tidal Investments LLC boosted its position in SoFi Technologies by 39.0% during the second quarter. Tidal Investments LLC now owns 538,067 shares of the company’s stock worth $9,648,000 after purchasing an additional 150,923 shares in the last quarter. Finally, Bienville Capital Management LLC purchased a new stake in SoFi Technologies during the second quarter worth $27,386,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a financial technology company that provides digital financial services through its SoFi platform. Founded in 2011 as a student-loan refinancing business, the company has expanded into a broader digital banking and personal-finance provider serving consumers primarily in the United States.

SoFi offers products including personal loans, student-loan refinancing, home loans, checking and savings accounts, credit cards, investment accounts, and financial-planning tools.