SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.2% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 1.2% during mid-day trading on Friday . The stock traded as low as $27.23 and last traded at $27.40. Approximately 43,603,907 shares were traded during trading, a decline of 32% from the average daily volume of 64,447,805 shares. The stock had previously closed at $27.72.

Wall Street Analyst Weigh In

SOFI has been the topic of several recent research reports. Citigroup raised their price objective on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. Barclays lifted their price target on shares of SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Truist Financial lowered their target price on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.50.

SoFi Technologies Trading Down 1.2%

The stock has a market cap of $33.04 billion, a P/E ratio of 50.74, a price-to-earnings-growth ratio of 1.69 and a beta of 1.92. The stock’s 50-day moving average is $27.80 and its two-hundred day moving average is $25.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s quarterly 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. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,340 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the completion of the transaction, the executive vice president owned 265,034 shares in the company, valued at $7,004,848.62. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 91,837 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total value of $2,446,537.68. Following the sale, the chief technology officer directly owned 794,598 shares in the company, valued at $21,168,090.72. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 167,813 shares of company stock valued at $4,403,334. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SOFI. SG Americas Securities LLC raised its position in shares of SoFi Technologies by 161.6% during the 4th quarter. SG Americas Securities LLC now owns 902,392 shares of the company’s stock valued at $23,625,000 after buying an additional 557,390 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in SoFi Technologies by 31.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 19,585 shares of the company’s stock worth $513,000 after acquiring an additional 4,700 shares during the last quarter. Teamwork Financial Advisors LLC increased its stake in SoFi Technologies by 523.7% during the fourth quarter. Teamwork Financial Advisors LLC now owns 460,120 shares of the company’s stock worth $12,046,000 after acquiring an additional 386,348 shares during the last quarter. Wedmont Private Capital raised its position in SoFi Technologies by 14.4% during the fourth quarter. Wedmont Private Capital now owns 27,543 shares of the company’s stock valued at $744,000 after purchasing an additional 3,457 shares during the period. Finally, Maridea Wealth Management LLC purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $267,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

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.