SoFi Technologies (NASDAQ:SOFI) Shares Down 1.5% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price dropped 1.5% on Wednesday . The stock traded as low as $29.02 and last traded at $29.07. Approximately 51,694,835 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 64,255,137 shares. The stock had previously closed at $29.51.

Analyst Ratings Changes

SOFI has been the subject of a number of research analyst reports. Needham & Company LLC increased their target price on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Citigroup upped their target price on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price objective on shares of SoFi Technologies in a report on Tuesday, October 28th. Finally, Mizuho set a $38.00 target price on shares of SoFi Technologies in a research report on Thursday, October 30th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.88.

SoFi Technologies Stock Down 1.5%

The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $28.16 and its 200 day moving average is $23.10. The stock has a market cap of $35.06 billion, a P/E ratio of 53.83, a P/E/G ratio of 2.83 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $880.33 million. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arun Pinto sold 46,132 shares of SoFi Technologies stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the transaction, the insider directly owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 175,277 shares of company stock valued at $4,694,595 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SOFI. Vanguard Group Inc. boosted its stake in shares of 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 raised its position in shares of SoFi Technologies by 30.7% during the 3rd quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after acquiring an additional 5,708,053 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SoFi Technologies by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,792,807 shares of the company’s stock valued at $258,821,000 after purchasing an additional 67,504 shares during the period. Norges Bank bought a new position in shares of SoFi Technologies in the 2nd quarter worth $164,068,000. Finally, Marshall Wace LLP increased its holdings in SoFi Technologies by 88.2% in the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after purchasing an additional 3,748,817 shares during the last quarter. 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.