SoFi Technologies (NASDAQ:SOFI) Shares Down 2.3% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) fell 2.3% during trading on Monday . The company traded as low as $28.67 and last traded at $29.03. 46,883,597 shares traded hands during trading, a decline of 27% from the average session volume of 64,325,332 shares. The stock had previously closed at $29.72.

Analyst Ratings Changes

Several research firms have recently weighed in on SOFI. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Truist Financial dropped their target price on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, November 25th. Morgan Stanley lifted their price target on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Barclays upped their price target on shares of SoFi Technologies from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $24.88.

SoFi Technologies Stock Down 1.5%

The firm’s 50-day simple moving average is $28.16 and its 200 day simple moving average is $23.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The stock has a market capitalization of $35.06 billion, a P/E ratio of 53.83, a PEG ratio of 2.83 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $880.33 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. SoFi Technologies’s quarterly revenue 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, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 10,340 shares of the business’s stock in a transaction that occurred 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 directly owned 265,034 shares in the company, valued at $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. In the last ninety days, insiders have sold 175,277 shares of company stock valued at $4,694,595. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Norges Bank acquired a new position in SoFi Technologies in the 2nd quarter valued at about $164,068,000. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 6.8% during the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after acquiring an additional 6,814,727 shares during the period. Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies in the second quarter valued at approximately $115,188,000. State Street Corp increased its stake in shares of SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after purchasing an additional 5,708,053 shares during the period. Finally, Nuveen LLC acquired a new stake in SoFi Technologies during the 1st quarter worth approximately $47,616,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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.