SoFi Technologies (NASDAQ:SOFI) Trading Down 1.1% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 1.1% during trading on Friday . The company traded as low as $16.33 and last traded at $16.46. Approximately 92,685,891 shares traded hands during mid-day trading, an increase of 33% from the average session volume of 69,721,617 shares. The stock had previously closed at $16.65.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating on the stock in a research note on Thursday, April 9th. UBS Group decreased their price target on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Morgan Stanley set a $16.00 price objective on SoFi Technologies in a research report on Thursday, April 30th. Stephens dropped their price objective on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Mizuho set a $29.00 target price on SoFi Technologies in a research report on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.83.

SoFi Technologies Trading Down 1.1%

The firm has a market cap of $21.11 billion, a P/E ratio of 37.41 and a beta of 2.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The stock has a 50 day moving average of $17.20 and a 200 day moving average of $18.84.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto bought 15,545 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the transaction, the chief executive officer directly owned 11,946,619 shares of the company’s stock, valued at $191,145,904. This represents a 0.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the transaction, the chief technology officer owned 895,089 shares in the company, valued at $15,914,682.42. The trade was a 10.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 124,302 shares of company stock valued at $2,182,523. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after buying an additional 14,281 shares during the period. Caxton Associates LLP bought a new stake in shares of SoFi Technologies in the 1st quarter valued at about $129,000. Empowered Funds LLC boosted its holdings in SoFi Technologies by 5.2% during the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock valued at $385,000 after acquiring an additional 1,631 shares during the period. Franklin Resources Inc. grew its position in SoFi Technologies by 23.2% during the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock worth $251,000 after acquiring an additional 2,596 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in SoFi Technologies during the 2nd quarter worth approximately $4,633,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

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.