SoFi Technologies (NASDAQ:SOFI) Trading Down 1.6% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 1.6% on Friday . The company traded as low as $17.96 and last traded at $18.22. Approximately 28,506,922 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 67,031,250 shares. The stock had previously closed at $18.51.

More SoFi Technologies News

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

• Positive Sentiment: Expanded crypto and payments partnership: Payward, the parent company of Kraken, will access SoFi’s banking infrastructure, join the SoFi Exchange Network and provide digital-asset liquidity through Kraken Prime. Kraken is also expected to list SoFiUSD, giving SoFi’s stablecoin broader distribution and potentially increasing transaction activity, dollar clearing and fee opportunities. SoFi Technologies Teams Up With Payward: Will SoFiUSD Gain Traction?
• Positive Sentiment: Scotiabank begins coverage with an Outperform rating: The bank initiated coverage on SOFI with a $25 price target, implying substantial upside from recent trading levels and adding institutional support to the investment case. Scotiabank initiates coverage of SoFi Technologies
• Positive Sentiment: Growth outlook remains attractive: Recent commentary highlights record revenue, member growth, rising cross-selling and a record 1.54 products per member. Optimistic projections call for significant revenue and earnings expansion through 2030, suggesting the stock’s decline from its peak may have created longer-term value. SoFi Technologies: Shares Are Flat So I’m Accumulating More
• Neutral Sentiment: Fundamentals have been strong, but execution is key: SoFi recently exceeded quarterly EPS and revenue expectations, with revenue rising 42.5% year over year. Investors will likely look for continued growth and progress monetizing SoFiUSD, banking services and digital assets.
• Negative Sentiment: Valuation and volatility remain risks: SOFI trades at a relatively elevated earnings multiple, and one analyst cited by Stocktwits still sees roughly 13% downside despite calling the Kraken agreement positive. The shares also remain well below their November 2025 record, indicating that investors continue to question whether rapid growth can justify the premium valuation. SoFi’s Kraken Deal Grows Its Stablecoin Reach

Wall Street Analyst Weigh In

SOFI has been the subject of several analyst reports. Mizuho cut their target price on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Scotiabank started coverage on shares of SoFi Technologies in a research report on Wednesday. They issued a “sector outperform” rating and a $25.00 target price for the company. Finally, Piper Sandler started coverage on shares of SoFi Technologies in a research report on Monday, August 17th. They set an “overweight” rating and a $22.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $22.55.

SoFi Technologies Stock Down 1.6%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The company has a market capitalization of $23.53 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 1.47 and a beta of 2.20. The firm’s fifty day moving average is $17.88 and its 200-day moving average is $17.47.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 42.5% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the sale, the executive vice president directly owned 356,442 shares in the company, valued at $6,415,956. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the transaction, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 136,505 shares of company stock valued at $2,418,096 in the last ninety days. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in SoFi Technologies during the 2nd quarter valued at approximately $1,298,925,000. California State Teachers Retirement System boosted its stake in shares of SoFi Technologies by 1,603.2% in the 2nd quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock valued at $559,435,000 after purchasing an additional 29,369,164 shares during the last quarter. State Street Corp raised its stake in SoFi Technologies by 6.7% during the fourth 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 last quarter. Geode Capital Management LLC lifted its holdings in SoFi Technologies by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock valued at $618,395,000 after buying an additional 1,951,248 shares during the period. Finally, Morgan Stanley grew its holdings in SoFi Technologies by 33.6% during the 4th 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 during the period. 38.43% of the stock is currently 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.