SoFi Technologies (NASDAQ:SOFI) Shares Up 2% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 2% during trading on Monday . The company traded as high as $18.80 and last traded at $18.58. 95,896,526 shares traded hands during trading, an increase of 48% from the average session volume of 64,891,320 shares. The stock had previously closed at $18.22.

Analysts Set New Price Targets

Several brokerages have issued reports on SOFI. Truist Financial dropped their target price on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. Wells Fargo & Company reduced their price target on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Mizuho set a $29.00 price objective on shares of SoFi Technologies in a research note on Wednesday, May 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $17.00 price objective on shares of SoFi Technologies in a report on Thursday, April 30th. Finally, Citizens Jmp upgraded shares of SoFi Technologies from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.56.

SoFi Technologies Stock Down 4.5%

The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $16.72 and a 200-day simple moving average of $21.50. The firm has a market cap of $22.76 billion, a P/E ratio of 40.32 and a beta of 2.14.

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

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto purchased 28,900 shares of the stock in a transaction on 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 directly owned 11,704,352 shares of the company’s stock, valued at $202,719,376.64. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 94,958 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the completion of the transaction, the chief technology officer owned 839,640 shares of the company’s stock, valued at approximately $14,634,925.20. The trade was a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 124,479 shares of company stock valued at $2,163,556 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently bought and sold shares of SOFI. Valley Wealth Managers Inc. bought a new position in shares of SoFi Technologies in the fourth quarter worth about $25,000. Blue Trust Inc. raised its stake in SoFi Technologies by 655.2% during the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock valued at $26,000 after purchasing an additional 878 shares during the period. Vermillion Wealth Management Inc. lifted its holdings in SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 739 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in SoFi Technologies in the 4th quarter worth approximately $28,000. Finally, Reflection Asset Management bought a new position in SoFi Technologies in the 4th quarter worth approximately $28,000. 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.