SoFi Technologies (NASDAQ:SOFI) Shares Down 6.5% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 6.5% during mid-day trading on Friday . The stock traded as low as $15.68 and last traded at $16.03. Approximately 80,415,557 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 65,209,367 shares. The stock had previously closed at $17.15.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SOFI. Argus assumed coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They set a “hold” rating on the stock. Weiss Ratings cut shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Truist Financial dropped their price objective on shares of SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. Stephens reduced their price objective on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, TD Cowen dropped their target price on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Seven 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 stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $22.56.

SoFi Technologies Price Performance

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 company’s 50 day simple moving average is $16.73 and its 200 day simple moving average is $21.24. The company has a market capitalization of $20.56 billion, a PE ratio of 36.43 and a beta of 2.14.

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

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto bought 15,545 shares of SoFi Technologies stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 10,037 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $15.53, for a total value of $155,874.61. Following the completion of the sale, the executive vice president directly owned 323,247 shares of the company’s stock, valued at approximately $5,020,025.91. This trade represents a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 124,479 shares of company stock valued at $2,163,556 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SOFI. Norges Bank purchased a new position in shares of SoFi Technologies during the fourth quarter worth approximately $321,515,000. Vanguard Group Inc. raised its position in SoFi Technologies by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock valued at $2,829,640,000 after purchasing an additional 6,814,727 shares during the last quarter. State Street Corp boosted its stake in SoFi Technologies by 30.7% during the 3rd quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after purchasing an additional 5,708,053 shares during the period. Marshall Wace LLP grew its position in SoFi Technologies by 372.9% during the 4th quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock worth $174,116,000 after purchasing an additional 5,244,291 shares during the last quarter. Finally, Morgan Stanley grew its position in SoFi Technologies by 33.6% during the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after purchasing an additional 3,350,258 shares during the last quarter. Institutional investors and hedge funds 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.