SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.2% - Time to Sell?

Key Points

• SoFi shares fell 1.2% to about $18.01 on lower-than-average trading volume, while the stock’s consensus analyst rating remains “Hold” with an average price target of $22.55.
• Recent analyst views are mixed but generally constructive: Piper Sandler initiated an “Overweight” rating with a $22 target, while Needham maintained “Buy” despite lowering its target to $24; Wells Fargo issued an “Equal Weight” rating with a $17 target.
• SoFi reported quarterly results above expectations, including $0.12 EPS versus $0.11 expected and $1.21 billion in revenue, up 42.5% year over year. Insiders sold shares under pre-arranged trading plans, while institutional ownership stands at 38.43%.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price traded down 1.2% on Tuesday . The company traded as low as $17.89 and last traded at $18.01. Approximately 30,120,593 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 66,803,656 shares. The stock had previously closed at $18.22.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SOFI shares. Piper Sandler assumed coverage on SoFi Technologies in a research report on Monday, August 17th. They set an "overweight" rating and a $22.00 target price on the stock. Needham & Company LLC decreased their price objective on SoFi Technologies from $25.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. The Goldman Sachs Group raised their target price on SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company reduced their target price on SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Nine 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $22.55.

SoFi Technologies Trading Down 1.2%

The stock has a market cap of $23.26 billion, a P/E ratio of 37.52, a PEG ratio of 1.50 and a beta of 2.20. The firm's fifty day moving average price is $17.89 and its two-hundred day moving average price is $17.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $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. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction that occurred 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 completion of the sale, the chief technology officer owned 895,089 shares in the company, valued at approximately $15,914,682.42. This trade represents a 10.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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. Also, EVP Kelli Keough sold 11,286 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the transaction, the executive vice president directly owned 356,442 shares in the company, valued at approximately $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 136,505 shares of company stock valued at $2,418,096. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Nykredit A S purchased a new stake in shares of SoFi Technologies in the 2nd quarter worth about $5,612,000. Amundi increased its position in SoFi Technologies by 7.2% during the second quarter. Amundi now owns 1,836,761 shares of the company's stock valued at $32,933,000 after acquiring an additional 123,570 shares during the last quarter. HighTower Advisors LLC grew its position in SoFi Technologies by 6.5% during the second quarter. HighTower Advisors LLC now owns 126,362 shares of the company's stock valued at $2,266,000 after buying an additional 7,755 shares during the period. Groupe la Francaise bought a new stake in shares of SoFi Technologies during the 2nd quarter valued at $631,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in SoFi Technologies in the 2nd quarter worth $9,445,000. 38.43% of the stock is owned by hedge funds and other 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.

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