SoFi Technologies (NASDAQ:SOFI) Shares Down 6.8% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 6.8% during mid-day trading on Thursday . The company traded as low as $24.75 and last traded at $24.91. Approximately 95,290,930 shares traded hands during mid-day trading, an increase of 48% from the average daily volume of 64,515,910 shares. The stock had previously closed at $26.72.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SOFI shares. BTIG Research reaffirmed a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. Truist Financial lifted their target price on shares of SoFi Technologies from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Redburn Atlantic upgraded shares of SoFi Technologies to a “hold” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Finally, Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a report on Friday, August 1st. They issued a “neutral” rating and a $20.50 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.06.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The stock’s 50-day simple moving average is $28.12 and its two-hundred day simple moving average is $22.23. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. During the same period last year, the business posted $0.05 earnings per share. The firm’s revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the transaction, the insider directly owned 138,396 shares in the company, valued at $3,426,684.96. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,340 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $26.43, for a total value of $273,286.20. Following the completion of the sale, the executive vice president directly owned 265,034 shares of the company’s stock, valued at $7,004,848.62. This represents a 3.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 175,277 shares of company stock valued at $4,694,595 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Xcel Wealth Management LLC lifted its stake in shares of SoFi Technologies by 0.6% in the third quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock valued at $1,874,000 after buying an additional 392 shares during the period. Key Client Fiduciary Advisors LLC lifted its position in shares of SoFi Technologies by 3.1% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock worth $373,000 after acquiring an additional 419 shares during the period. Assetmark Inc. grew its holdings in shares of SoFi Technologies by 50.5% during the 3rd quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock worth $34,000 after purchasing an additional 427 shares in the last quarter. Cigna Investments Inc. New grew its holdings in shares of SoFi Technologies by 4.2% during the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock worth $291,000 after purchasing an additional 446 shares in the last quarter. Finally, Blume Capital Management Inc. increased its position in shares of SoFi Technologies by 52.9% during the third quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock valued at $34,000 after purchasing an additional 450 shares during the period. Institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.