SoFi Technologies (NASDAQ:SOFI) Shares Down 6.7% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) fell 6.7% on Wednesday. The stock traded as low as $13.92 and last traded at $14.22. 90,776,985 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 64,109,871 shares. The stock had previously closed at $15.24.

SoFi Technologies News Roundup

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

• Positive Sentiment: StoneX initiated coverage with a Buy rating, arguing that SoFi’s valuation has become attractive after its 2026 selloff and citing improving operating performance. The firm reportedly sees approximately 64% upside. StoneX initiates coverage of SoFi Technologies at buy
• Positive Sentiment: Benchmark Co. upgraded SoFi to “strong buy,” adding another favorable analyst opinion while the stock trades substantially below its 52-week high. SoFi Technologies upgraded by Benchmark Co.
• Neutral Sentiment: Investor attention remains unusually high, with SoFi among the most searched stocks on Zacks. The increased visibility could support trading interest, but the reports do not identify a new fundamental catalyst. Investors heavily search SoFi Technologies
• Neutral Sentiment: SoFi announced a monthly distribution for its THTA ETF, with a stated 10.00% distribution rate. Because THTA is an ETF rather than a direct SOFI corporate earnings event, the announcement is unlikely to materially affect SoFi Technologies’ shares. SoFi announces monthly distributions on THTA
• Negative Sentiment: Higher long-term yields are the dominant pressure. Rising borrowing costs can compress fintech net interest margins and loan demand, concerns that are affecting SoFi and peers such as Affirm and Robinhood despite the new analyst coverage. Rising yields pressure fintech stocks
• Negative Sentiment: The stock’s technical momentum remains weak: SoFi has lost nearly half its value during 2026 and reached a 52-week low, signaling continued investor concern even as analysts point to potential recovery. SoFi Technologies stock hits 52-week low

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. TD Cowen cut their target price on shares of SoFi Technologies from $18.00 to $17.50 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Morgan Stanley lowered their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. Benchmark upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Monday. Weiss Ratings lowered shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. Finally, Scotiabank assumed coverage on shares of SoFi Technologies in a report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $22.20.

SoFi Technologies Stock Down 6.7%

The company’s 50-day moving average is $17.31 and its 200 day moving average is $17.14. 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 company has a market capitalization of $18.37 billion, a PE ratio of 29.63, a P/E/G ratio of 1.27 and a beta of 2.33.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter 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, analysts anticipate that SoFi Technologies, Inc. will post 0.60 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares of the company’s stock, valued at approximately $6,415,956. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $17.50, for a total transaction 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 51,067 shares of company stock worth $890,716. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently bought and sold shares of SOFI. BlackRock Inc. purchased a new stake in SoFi Technologies in the 2nd quarter worth $1,298,925,000. Bank of America Corp DE purchased a new stake in shares of SoFi Technologies in the second quarter worth about $163,808,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in SoFi Technologies during the second quarter valued at approximately $93,937,000. Bank of New York Mellon Corp purchased a new stake in SoFi Technologies during the second quarter valued at $72,531,000. Finally, Legal & General Group Plc purchased a new position in shares of SoFi Technologies in the 2nd quarter worth $64,706,000. 38.43% of the stock is owned by institutional investors.

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.