SoFi Technologies (NASDAQ:SOFI) Shares Down 2.8% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price dropped 2.8% on Friday . The company traded as low as $24.84 and last traded at $25.24. Approximately 77,987,678 shares traded hands during trading, an increase of 27% from the average daily volume of 61,506,410 shares. The stock had previously closed at $25.97.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of research reports. Needham & Company LLC raised their target price on shares of SoFi Technologies from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a report on Monday, July 14th. They set a “neutral” rating and a $19.00 target price for the company. TD Cowen initiated coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a “hold” rating and a $21.00 target price for the company. Citigroup raised their target price on shares of SoFi Technologies from $18.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, JMP Securities restated a “market perform” rating and set a $17.00 target price on shares of SoFi Technologies in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.18.

SoFi Technologies Price Performance

The stock has a market capitalization of $30.22 billion, a P/E ratio of 52.58, a PEG ratio of 3.00 and a beta of 1.92. The stock’s fifty day moving average is $25.03 and its 200-day moving average is $18.19. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analysts’ expectations of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies’s revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction on 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 transaction, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the transaction, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,614 shares of company stock worth $3,452,672 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in SoFi Technologies by 11.8% in the 3rd quarter. GAMMA Investing LLC now owns 9,564 shares of the company’s stock worth $253,000 after purchasing an additional 1,006 shares during the last quarter. Praxis Investment Management Inc. grew its position in SoFi Technologies by 14.4% in the 3rd quarter. Praxis Investment Management Inc. now owns 30,382 shares of the company’s stock worth $803,000 after purchasing an additional 3,822 shares during the last quarter. Corient Private Wealth LLC grew its position in SoFi Technologies by 21.4% in the 2nd quarter. Corient Private Wealth LLC now owns 125,291 shares of the company’s stock worth $2,257,000 after purchasing an additional 22,069 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its position in SoFi Technologies by 20.2% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 403,405 shares of the company’s stock worth $7,346,000 after purchasing an additional 67,799 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in SoFi Technologies by 66.0% in the 2nd quarter. Centaurus Financial Inc. now owns 18,522 shares of the company’s stock worth $337,000 after purchasing an additional 7,365 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.