SoFi Technologies (NASDAQ:SOFI) Trading Down 2.8% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 2.8% during mid-day trading on Tuesday . The stock traded as low as $26.55 and last traded at $26.83. 57,345,922 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 64,543,137 shares. The stock had previously closed at $27.61.

Analyst Ratings Changes

Several analysts have commented on the company. Keefe, Bruyette & Woods lifted their price target on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Truist Financial reduced their price target on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, November 25th. Citigroup increased their price target on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Finally, Morgan Stanley increased their price target on SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.69.

SoFi Technologies Trading Down 2.8%

The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average is $28.20 and its 200-day moving average is $23.53. The firm has a market capitalization of $32.35 billion, a P/E ratio of 49.69 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 for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The firm had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. During the same period in the prior year, the firm earned $0.05 EPS. The business’s revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 175,277 shares of company stock valued at $4,694,595 in the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in SoFi Technologies by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after buying an additional 6,814,727 shares during the period. State Street Corp lifted its holdings in SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after buying an additional 5,708,053 shares during the period. Dimensional Fund Advisors LP grew its stake in SoFi Technologies by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 9,792,807 shares of the company’s stock worth $258,821,000 after purchasing an additional 67,504 shares during the period. Norges Bank acquired a new stake in shares of SoFi Technologies during the 2nd quarter worth approximately $164,068,000. Finally, Marshall Wace LLP increased its stake in SoFi Technologies by 88.2% in the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after purchasing an additional 3,748,817 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.