SoFi Technologies (NASDAQ:SOFI) Shares Down 2.2% After Analyst Downgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 2.2% on Tuesday after Truist Financial lowered their price target on the stock from $20.00 to $17.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as low as $15.55 and last traded at $15.90. Approximately 61,760,529 shares changed hands during trading, a decline of 3% from the average daily volume of 63,980,094 shares. The stock had previously closed at $16.26.

Several other research firms have also recently weighed in on SOFI. Barclays decreased their target price on SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Wells Fargo & Company cut their price target on SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $18.00 price target on shares of SoFi Technologies in a research report on Thursday, April 30th. Argus started coverage on SoFi Technologies in a research report on Wednesday, April 15th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut their price target on SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.56.

Insider Activity

In related news, CEO Anthony Noto bought 28,900 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average price of $17.32 per share, with a total value of $500,548.00. Following the completion of the acquisition, the chief executive officer owned 11,704,352 shares in the company, valued at approximately $202,719,376.64. This trade represents a 0.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,755 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $18.87, for a total value of $184,076.85. Following the completion of the transaction, the executive vice president directly owned 293,725 shares in the company, valued at approximately $5,542,590.75. The trade was a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 124,197 shares of company stock valued at $2,191,758. Company insiders own 2.60% of the company’s stock.

SoFi Technologies News Roundup

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

• Positive Sentiment: CEO Anthony Noto bought 15,545 shares of SoFi at $16.00 apiece, signaling management confidence after the stock’s steep decline. SoFi Technologies (NASDAQ:SOFI) CEO Anthony Noto Buys 15,545 Shares
• Positive Sentiment: SoFi reportedly acquired PrimaryBid, a U.K. capital-markets fintech, which could expand its product set and international reach. SoFi Acquires Capital Markets Partner PrimaryBid
• Neutral Sentiment: SoFi’s head of investment strategy, Liz Thomas, cautioned investors about market conditions, but the commentary was broader market advice rather than company-specific news. SoFi’s Liz Thomas has a message for stock market investors
• Negative Sentiment: Truist lowered its price target on SoFi to $17 from $20 and kept a Hold rating, citing slower loan-platform assumptions and softer expectations for the technology segment. Truist Cuts SoFi Price Target to $17: Loan Platform Slowdown Pressures the Bull Case
• Negative Sentiment: Some recent coverage highlighted that SOFI remains well below prior highs and that the stock is still wrestling with a difficult year-to-date setup, keeping sentiment cautious. Here’s What I Think Is Really Going On With SoFi Stock

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in SoFi Technologies during the fourth quarter worth $321,515,000. Vanguard Group Inc. grew its holdings in SoFi Technologies by 6.8% during the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after acquiring an additional 6,814,727 shares during the period. State Street Corp grew its holdings in SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after acquiring an additional 5,708,053 shares during the period. Marshall Wace LLP grew its holdings in SoFi Technologies by 372.9% during the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock worth $174,116,000 after acquiring an additional 5,244,291 shares during the period. Finally, Morgan Stanley grew its holdings in SoFi Technologies by 33.6% during the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after acquiring an additional 3,350,258 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

The stock has a fifty day moving average of $17.31 and a two-hundred day moving average of $22.91. The stock has a market cap of $20.28 billion, a price-to-earnings ratio of 36.14 and a beta of 2.12. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 0.17.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. SoFi Technologies had a return on equity of 6.63% and a net margin of 14.65%.The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. SoFi Technologies’s quarterly revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

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.