SoFi Technologies (NASDAQ:SOFI) Shares Down 1.6% Following Insider Selling

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 1.6% on Wednesday after an insider sold shares in the company. The company traded as low as $17.36 and last traded at $17.42. 120,367,116 shares changed hands during mid-day trading, an increase of 81% from the average daily volume of 66,486,258 shares. The stock had previously closed at $17.71.

Specifically, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction 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 completion of the sale, the chief technology officer owned 895,089 shares in the company, valued at $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SOFI. Morgan Stanley set a $16.00 price target on SoFi Technologies in a report on Thursday, April 30th. Needham & Company LLC decreased their price objective on SoFi Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Citigroup dropped their price objective on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Barclays cut their target price on SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Finally, Mizuho set a $29.00 target price on shares of SoFi Technologies in a report on Wednesday, May 6th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.56.

SoFi Technologies Stock Performance

The business has a 50-day moving average price of $16.93 and a 200-day moving average price of $20.51. 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 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 posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in SOFI. Lake Street Private Wealth LLC increased its holdings in shares of SoFi Technologies by 4.9% during the fourth quarter. Lake Street Private Wealth LLC now owns 8,368 shares of the company’s stock valued at $219,000 after acquiring an additional 390 shares in the last quarter. Capital Advisors Wealth Management LLC raised its position in shares of SoFi Technologies by 0.4% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company’s stock valued at $2,866,000 after purchasing an additional 401 shares during the last quarter. First Horizon Corp boosted its stake in SoFi Technologies by 14.9% in the 4th quarter. First Horizon Corp now owns 3,116 shares of the company’s stock worth $82,000 after purchasing an additional 405 shares in the last quarter. Cigna Investments Inc. New boosted its stake in SoFi Technologies by 3.8% in the 4th quarter. Cigna Investments Inc. New now owns 11,440 shares of the company’s stock worth $299,000 after purchasing an additional 416 shares in the last quarter. Finally, Assetmark Inc. grew its position in SoFi Technologies by 50.5% during the 3rd quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock worth $34,000 after purchasing an additional 427 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.