SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.3% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded down 3.3% on Tuesday . The company traded as low as $16.94 and last traded at $17.07. 49,571,486 shares traded hands during trading, a decline of 25% from the average session volume of 65,937,766 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research reports. Morgan Stanley cut their target price on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Needham & Company LLC dropped their price target on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Loop Capital initiated coverage on SoFi Technologies in a research report on Tuesday, September 8th. They issued a “hold” rating and a $22.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Piper Sandler began coverage on shares of SoFi Technologies in a research report on Monday, August 17th. They issued an “overweight” rating and a $22.00 target price on the stock. Nine 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.52.

SoFi Technologies Trading Down 3.3%

The company has a market cap of $22.05 billion, a P/E ratio of 35.56, a P/E/G ratio of 1.42 and a beta of 2.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The stock’s 50-day moving average is $17.81 and its two-hundred day moving average is $17.40.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.SoFi Technologies’s revenue was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the transaction, the executive vice president owned 356,442 shares of the company’s stock, valued at $6,415,956. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer owned 895,089 shares in the company, valued at $15,914,682.42. This represents 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. Over the last ninety days, insiders sold 136,505 shares of company stock worth $2,418,096. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently bought and sold shares of SOFI. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of SoFi Technologies by 21.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,880 shares of the company’s stock valued at $75,000 after acquiring an additional 503 shares during the last quarter. Capital Advisors Inc. OK increased its stake in shares of SoFi Technologies by 2.2% during the second quarter. Capital Advisors Inc. OK now owns 28,324 shares of the company’s stock valued at $508,000 after buying an additional 615 shares during the period. Mayflower Financial Advisors LLC lifted its position in shares of SoFi Technologies by 2.3% in the 1st quarter. Mayflower Financial Advisors LLC now owns 29,202 shares of the company’s stock worth $464,000 after purchasing an additional 653 shares during the period. CX Institutional lifted its holdings in SoFi Technologies by 36.2% during the second quarter. CX Institutional now owns 2,477 shares of the company’s stock worth $44,000 after buying an additional 658 shares during the period. Finally, MCF Advisors LLC boosted its position in SoFi Technologies by 27.7% during the fourth quarter. MCF Advisors LLC now owns 3,126 shares of the company’s stock valued at $82,000 after purchasing an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.