SoFi Technologies (NASDAQ:SOFI) Trading Down 1.4% Following Analyst Downgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 1.4% on Monday after Citigroup lowered their price target on the stock from $37.00 to $30.00. Citigroup currently has a buy rating on the stock. SoFi Technologies traded as low as $16.13 and last traded at $16.20. Approximately 65,906,053 shares were traded during trading, an increase of 3% from the average daily volume of 64,295,609 shares. The stock had previously closed at $16.43.

A number of other research analysts have also issued reports on SOFI. Argus initiated coverage on shares of SoFi Technologies in a report on Wednesday, April 15th. They issued a “hold” rating for the company. Barclays dropped their price target on shares of SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. JPMorgan Chase & Co. upgraded shares of SoFi Technologies from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Tuesday, February 3rd. Bank of America began coverage on shares of SoFi Technologies in a research note on Tuesday, January 6th. They set an “underperform” rating and a $20.50 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.22.

Insiders Place Their Bets

In other SoFi Technologies news, Director Steven J. Freiberg sold 94,225 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $20.31, for a total value of $1,913,709.75. Following the completion of the sale, the director owned 588,849 shares of the company’s stock, valued at approximately $11,959,523.19. This trade represents a 13.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,742 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $19.25, for a total value of $187,533.50. Following the transaction, the executive vice president directly owned 333,284 shares in the company, valued at $6,415,717. The trade was a 2.84% 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. Over the last three months, insiders purchased 38,900 shares of company stock worth $705,398 and sold 218,422 shares worth $4,105,468. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of SOFI. Brighton Jones LLC increased its position in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after acquiring an additional 14,281 shares in the last quarter. Caxton Associates LLP bought a new position in SoFi Technologies in the 1st quarter valued at about $129,000. Empowered Funds LLC boosted its stake in SoFi Technologies by 5.2% during the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock valued at $385,000 after purchasing an additional 1,631 shares during the last quarter. Franklin Resources Inc. increased its holdings in SoFi Technologies by 23.2% during the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock worth $251,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in SoFi Technologies during the 2nd quarter worth approximately $4,633,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Down 1.4%

The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $17.59 and a 200 day moving average price of $23.32. The stock has a market capitalization of $20.66 billion, a PE ratio of 36.82 and a beta of 2.12.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.05 billion. SoFi Technologies had a return on equity of 6.63% and a net margin of 14.65%.SoFi Technologies’s quarterly revenue was up 42.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Equities analysts expect that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

SoFi Technologies Company Profile

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.