SoFi Technologies (NASDAQ:SOFI) Shares Down 3.6% - What's Next?

Key Points

• SoFi shares fell 3.6% to $15.23 in heavy but below-average trading volume, with the stock remaining below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: nine analysts rate the stock Buy, eleven Hold, and three Sell. The consensus rating is Hold, with an average price target of $22.50.
• SoFi recently exceeded quarterly expectations, reporting $0.12 in EPS and $1.21 billion in revenue, up 42.5% year over year. Institutional ownership stands at 38.43%, while insiders have sold shares under pre-arranged trading plans.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 3.6% during trading on Monday. The company traded as low as $15.19 and last traded at $15.23. Approximately 40,095,220 shares changed hands during trading, a decline of 37% from the average session volume of 64,136,836 shares. The stock had previously closed at $15.80.

Analysts Set New Price Targets

Several brokerages recently issued reports on SOFI. Loop Capital assumed coverage on shares of SoFi Technologies in a research report on Tuesday, September 8th. They issued a "hold" rating and a $22.00 target price on the stock. Wells Fargo & Company dropped their target price on SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, July 30th. Scotiabank started coverage on SoFi Technologies in a research report on Wednesday, September 2nd. They issued a "sector outperform" rating and a $25.00 target price for the company. Piper Sandler initiated coverage on shares of SoFi Technologies in a research note on Monday, August 17th. They set an "overweight" rating and a $22.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating on the stock in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.50.

SoFi Technologies Price Performance

The stock has a fifty day simple moving average of $17.43 and a 200-day simple moving average of $17.16. The company has a market capitalization of $19.67 billion, a PE ratio of 31.73, a P/E/G ratio of 1.32 and a beta of 2.33. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.08 earnings per share. The firm'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. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.60 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,203 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $16.99, for a total transaction of $173,348.97. Following the transaction, the executive vice president owned 408,073 shares in the company, valued at $6,933,160.27. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the transaction, the chief technology officer directly owned 912,650 shares of the company's stock, valued at $15,971,375. The trade was a 2.00% 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. Over the last three months, insiders sold 51,067 shares of company stock valued at $890,716. Insiders own 2.50% of the company's stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently made changes to their positions in SOFI. BlackRock Inc. acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at about $1,298,925,000. Bank of America Corp DE acquired a new stake in SoFi Technologies during the 2nd quarter worth approximately $163,808,000. Dimensional Fund Advisors LP raised its holdings in SoFi Technologies by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company's stock valued at $144,539,000 after buying an additional 359,785 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in SoFi Technologies in the second quarter valued at approximately $93,937,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of SoFi Technologies by 2.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,689,426 shares of the company's stock valued at $90,348,000 after acquiring an additional 156,218 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services through its SoFi platform. Founded in 2011 as a student-loan refinancing business, the company has expanded into a broader digital banking and personal-finance provider serving consumers primarily in the United States.

SoFi offers products including personal loans, student-loan refinancing, home loans, checking and savings accounts, credit cards, investment accounts, and financial-planning tools.

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