SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.4% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 3.4% during mid-day trading on Tuesday . The stock traded as high as $18.08 and last traded at $17.71. Approximately 104,879,795 shares traded hands during trading, an increase of 59% from the average daily volume of 65,965,031 shares. The stock had previously closed at $17.13.

Key Headlines Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: CEO Anthony Noto bought more SoFi shares again, extending his buying streak and reinforcing confidence in the company’s outlook. SoFi CEO Won’t Stop Buying His Own Stock
• Positive Sentiment: SoFi’s platform gave retail investors access to the SpaceX IPO, highlighting growth in its investing business and its appeal as a full-service financial app. SoFi (SOFI) Opened SpaceX IPO Access To Retail Investors Through Its Platform
• Positive Sentiment: Coverage pointed to SoFi’s strong revenue growth, profitability, and improving cross-sell activity, which supports the long-term investment thesis. SoFi’s Productivity Loop Strengthens Customer Relationships
• Neutral Sentiment: SoFi’s CTO sold shares, but the filing says the transaction was pre-planned and related to tax withholding on vested equity, which usually limits the negative signal. Insider Selling: SoFi Technologies (NASDAQ:SOFI) CTO Sells 102,123 Shares of Stock
• Neutral Sentiment: Some recent commentary says the stock may be bottoming after a sharp valuation reset, but it remains volatile and well below prior highs. SoFi stock shows bottoming signs after suffering a $17 billion wipeout
• Negative Sentiment: The stock also faced pressure after underperforming the broader market in the latest session, keeping sentiment cautious. SoFi Technologies, Inc. (SOFI) Falls More Steeply Than Broader Market: What Investors Need to Know
• Negative Sentiment: Longer-term sentiment remains mixed after a large selloff from prior highs, with investors still focused on SoFi’s reduced valuation and volatility. How SoFi Went From Fintech Darling To Wall Street Pariah

Analyst Upgrades and Downgrades

SOFI has been the subject of several recent analyst reports. Stephens cut their price objective on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, April 9th. UBS Group cut their price target on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Truist Financial reduced their price target on shares of SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. Finally, Citigroup decreased their price objective on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.56.

SoFi Technologies Stock Up 2.8%

The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $16.90 and a two-hundred day moving average of $20.59. The firm has a market capitalization of $22.97 billion, a price-to-earnings ratio of 40.71 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business’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. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto purchased 15,545 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $16.00 per share, with a total value of $248,720.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares in the company, valued at approximately $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 three months, insiders sold 131,644 shares of company stock worth $2,324,185. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position 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 purchasing an additional 3,900,895 shares in the last quarter. State Street Corp raised its stake in SoFi Technologies by 6.7% during the 4th quarter. State Street Corp now owns 25,937,928 shares of the company’s stock worth $679,055,000 after buying an additional 1,637,430 shares during the period. Geode Capital Management LLC raised its stake in SoFi Technologies by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock worth $618,395,000 after buying an additional 1,951,248 shares during the period. Morgan Stanley boosted its holdings in SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after acquiring an additional 3,350,258 shares in the last quarter. Finally, Norges Bank acquired a new stake in SoFi Technologies in the fourth quarter valued at approximately $321,515,000. 38.43% of the stock is 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.