SoFi Technologies (NASDAQ:SOFI) Shares Down 1% – Here’s Why

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 1% during trading on Monday. The company traded as low as $14.40 and last traded at $14.46. Approximately 42,317,187 shares were traded during trading, a decline of 33% from the average session volume of 63,360,488 shares. The stock had previously closed at $14.61.

Key Stories Impacting SoFi Technologies

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

• Positive Sentiment: Analyst initiates coverage with a Buy rating: Monness Crespi & Hardt set a $20 price target, implying substantial upside from recent levels. Monness Crespi & Hardt coverage
• Positive Sentiment: New tokenized-deposit initiative: SoFi plans to launch retail, interest-bearing tokenized deposits, potentially expanding its digital-finance ecosystem and creating longer-term fee and deposit-growth opportunities. SoFi tokenized deposits
• Positive Sentiment: Growth expectations remain favorable: Analysts and commentators point to record second-quarter additions of approximately 1.1 million members, a total membership base near 15 million, strong lending demand, deeper engagement and rising fee income as potential drivers of solid third-quarter revenue and earnings growth. SoFi Q3 growth outlook
• Neutral Sentiment: Earnings are the immediate catalyst: SOFI has not issued specific third-quarter guidance. Investors will focus on membership growth, loan originations, deposits, fee-based revenue, credit quality and whether profitability is keeping pace with revenue growth. SoFi Q3 earnings preview
• Negative Sentiment: Price-target reduction signals caution: Truist lowered its target to $16, reflecting more limited expected upside and potentially softer sentiment ahead of the report. Truist target reduction
• Negative Sentiment: Insider selling adds pressure: Executive Kelli Keough sold 10,203 shares under a prearranged Rule 10b5-1 plan. The planned nature reduces its significance, but the sale can still weigh on sentiment. SoFi executive stock sale

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SOFI. Scotiabank began coverage on SoFi Technologies in a report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $25.00 price target for the company. Wells Fargo & Company cut their price objective on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Benchmark upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Monday, October 12th. Morgan Stanley lowered their target price 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. Finally, The Goldman Sachs Group set a $15.00 target price on shares of SoFi Technologies in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $21.95.

SoFi Technologies Trading Down 1.0%

The business has a 50-day moving average of $16.74 and a 200-day moving average of $17.08. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 0.85 and a beta of 2.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%. The company’s revenue was up 42.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.60 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the sale, the chief technology officer directly owned 912,650 shares of the company’s stock, valued at $15,971,375. The trade was a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 50,316 shares of company stock worth $852,605 over the last three months. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SOFI. Capital Advisors Inc. OK grew its position in shares of SoFi Technologies by 2.2% in the second quarter. Capital Advisors Inc. OK now owns 28,324 shares of the company’s stock valued at $508,000 after purchasing an additional 615 shares during the period. Mayflower Financial Advisors LLC raised its position in shares of SoFi Technologies by 2.3% during the 1st quarter. Mayflower Financial Advisors LLC now owns 29,202 shares of the company’s stock worth $464,000 after purchasing an additional 653 shares during the last quarter. CX Institutional lifted its stake in SoFi Technologies by 36.2% in the 2nd quarter. CX Institutional now owns 2,477 shares of the company’s stock valued at $44,000 after buying an additional 658 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in SoFi Technologies by 44.2% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 2,248 shares of the company’s stock valued at $35,000 after buying an additional 689 shares in the last quarter. Finally, Archer Investment Corp boosted its holdings in SoFi Technologies by 27.6% in the 1st quarter. Archer Investment Corp now owns 3,191 shares of the company’s stock worth $51,000 after buying an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.