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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price gapped down before the market opened on Friday . The stock had previously closed at $29.60, but opened at $27.37. SoFi Technologies shares last traded at $27.7190, with a volume of 34,329,169 shares.

Analyst Ratings Changes

SOFI has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their price objective on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. Mizuho set a $38.00 target price on shares of SoFi Technologies in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.88.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The business’s 50-day moving average price is $28.21 and its two-hundred day moving average price is $23.19. The firm has a market cap of $33.42 billion, a price-to-earnings ratio of 51.35, a P/E/G ratio of 2.83 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other news, insider Arun Pinto sold 46,132 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the sale, the insider directly owned 138,396 shares in the company, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total value of $273,286.20. Following the transaction, the executive vice president owned 265,034 shares of the company’s stock, valued at approximately $7,004,848.62. The trade was a 3.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 175,277 shares of company stock valued at $4,694,595 in the last quarter. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the company. Xcel Wealth Management LLC boosted its stake in SoFi Technologies by 0.6% during the 3rd quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock valued at $1,874,000 after purchasing an additional 392 shares during the period. Key Client Fiduciary Advisors LLC increased its stake in shares of SoFi Technologies by 3.1% in the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock valued at $373,000 after purchasing an additional 419 shares during the period. Assetmark Inc. raised its holdings in shares of SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after buying an additional 427 shares during the last quarter. Cigna Investments Inc. New boosted its position in shares of SoFi Technologies by 4.2% during the third quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock worth $291,000 after buying an additional 446 shares during the period. Finally, Blume Capital Management Inc. boosted its position in shares of SoFi Technologies by 52.9% during the third quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock worth $34,000 after buying an additional 450 shares during the period. Institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

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.