SoFi Technologies (NASDAQ:SOFI) Trading Up 1.5% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 1.5% during trading on Friday . The company traded as high as $18.54 and last traded at $18.38. Approximately 51,356,566 shares traded hands during trading, a decline of 27% from the average session volume of 70,290,125 shares. The stock had previously closed at $18.10.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Needham & Company LLC decreased their price target on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Argus began coverage on shares of SoFi Technologies in a research report on Wednesday, April 15th. They set a “hold” rating on the stock. Morgan Stanley dropped their price objective on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Finally, UBS Group cut their target price on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.38.

SoFi Technologies Price Performance

The stock has a 50 day moving average price of $17.46 and a two-hundred day moving average price of $18.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. The company has a market capitalization of $23.58 billion, a PE ratio of 38.29 and a beta of 2.17.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.39% and a net margin of 14.78%.The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company earned $0.08 EPS. The firm’s revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto purchased 15,545 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $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 can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their position. 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 sold 135,256 shares of company stock worth $2,370,822 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 3,900,895 shares during the last quarter. BlackRock Inc. bought a new stake in SoFi Technologies during the second quarter worth approximately $1,298,925,000. State Street Corp boosted its position in SoFi Technologies by 6.7% during the fourth quarter. State Street Corp now owns 25,937,928 shares of the company’s stock worth $679,055,000 after purchasing an additional 1,637,430 shares during the period. Geode Capital Management LLC grew its holdings in SoFi Technologies by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock valued at $618,395,000 after purchasing an additional 1,951,248 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after purchasing an additional 3,350,258 shares during the period. 38.43% of the stock is currently owned by institutional investors.

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.