SoFi Technologies (NASDAQ:SOFI) Trading Down 1.4% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price dropped 1.4% during trading on Monday . The company traded as low as $17.99 and last traded at $18.12. 37,141,880 shares were traded during mid-day trading, a decline of 47% from the average session volume of 70,090,602 shares. The stock had previously closed at $18.38.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $18.00 price target on shares of SoFi Technologies in a report on Thursday, April 30th. TD Cowen reduced their price objective on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, April 30th. The Goldman Sachs Group boosted their target price on SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. UBS Group lowered their target price on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, Wells Fargo & Company dropped their price target on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.38.

SoFi Technologies Price Performance

The firm has a fifty day moving average price of $17.46 and a two-hundred day moving average price of $18.08. The stock has a market capitalization of $23.24 billion, a P/E ratio of 37.75 and a beta of 2.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a return on equity of 6.39% and a net margin of 14.78%.SoFi Technologies’s revenue was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Insider Activity

In other news, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, EVP Kelli Keough sold 10,954 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $17.19, for a total transaction of $188,299.26. Following the completion of the transaction, the executive vice president directly owned 367,728 shares in the company, valued at approximately $6,321,244.32. The trade was a 2.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 135,256 shares of company stock worth $2,370,822 over the last three months. Insiders own 2.50% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after buying an additional 14,281 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of SoFi Technologies during the 1st quarter worth $129,000. Empowered Funds LLC grew its position in shares of 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 acquiring an additional 1,631 shares during the period. Franklin Resources Inc. grew its position in shares of SoFi Technologies by 23.2% during the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock valued at $251,000 after acquiring an additional 2,596 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of SoFi Technologies in the 2nd quarter worth $4,633,000. 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.