SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.5% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price fell 3.5% during trading on Monday . The company traded as low as $18.22 and last traded at $18.24. Approximately 32,347,459 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 68,588,609 shares. The stock had previously closed at $18.91.

Analysts Set New Price Targets

Several research firms have issued reports on SOFI. Weiss Ratings raised SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler assumed coverage on SoFi Technologies in a research report on Monday, August 17th. They set an “overweight” rating and a $22.00 price objective on the stock. Truist Financial lifted their price objective on SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. UBS Group cut their price objective on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Finally, Morgan Stanley lowered their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.42.

SoFi Technologies Stock Down 3.5%

The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $23.56 billion, a P/E ratio of 38.00 and a beta of 2.17. The company has a 50 day simple moving average of $17.73 and a two-hundred day simple moving average of $17.61.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.08 EPS. The company’s revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 10,954 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $17.19, for a total value of $188,299.26. Following the sale, the executive vice president owned 367,728 shares in the company, valued at approximately $6,321,244.32. The trade was a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies 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 transaction, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at $15,914,682.42. The trade was 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 have sold 125,219 shares of company stock valued at $2,214,948. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SOFI. Valley Wealth Managers Inc. bought a new stake in SoFi Technologies in the fourth quarter worth $25,000. Vermillion Wealth Management Inc. lifted its holdings in shares of SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after acquiring an additional 739 shares during the last quarter. Reflection Asset Management purchased a new position in shares of SoFi Technologies during the 4th quarter worth about $28,000. American Capital Advisory LLC grew its holdings in SoFi Technologies by 456.7% during the 4th quarter. American Capital Advisory LLC now owns 1,297 shares of the company’s stock valued at $34,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in SoFi Technologies by 232.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company’s stock valued at $34,000 after purchasing an additional 1,467 shares during the last quarter. Institutional investors 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.