SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.8% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 2.8% during trading on Thursday . The stock traded as high as $17.99 and last traded at $17.91. Approximately 80,299,821 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 66,627,031 shares. The stock had previously closed at $17.42.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SOFI shares. TD Cowen reduced their target price on shares of SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Weiss Ratings downgraded SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods cut their price target on SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating on the stock in a report on Thursday, April 9th. Wells Fargo & Company reduced their price objective on 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. Finally, Citigroup decreased their price objective on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $22.56.

SoFi Technologies Stock Performance

The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 40.71 and a beta of 2.14. The stock’s 50 day moving average price is $16.96 and its 200 day moving average price is $20.49. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) 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 in the previous year, the business earned $0.06 earnings per share. SoFi Technologies’s quarterly revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Analysts expect that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,037 shares of the firm’s stock in a transaction on 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was 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 approximately $15,914,682.42. The trade was a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 121,902 shares of company stock valued at $2,159,155 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Firsthand Capital Management Inc. increased its holdings in shares of SoFi Technologies by 60.0% during the 3rd quarter. Firsthand Capital Management Inc. now owns 80,000 shares of the company’s stock worth $2,114,000 after acquiring an additional 30,000 shares during the last quarter. SG Americas Securities LLC raised its stake in SoFi Technologies by 161.6% in the 4th quarter. SG Americas Securities LLC now owns 902,392 shares of the company’s stock valued at $23,625,000 after acquiring an additional 557,390 shares during the period. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock valued at $2,906,061,000 after purchasing an additional 3,900,895 shares during the last quarter. North Dakota State Investment Board acquired a new stake in SoFi Technologies during the 4th quarter valued at $1,044,000. Finally, Thoroughbred Financial Services LLC boosted its position in SoFi Technologies by 212.2% during the third quarter. Thoroughbred Financial Services LLC now owns 40,140 shares of the company’s stock worth $1,060,000 after purchasing an additional 27,283 shares during the period. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.