SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.7% - Here's What Happened

Key Points

• SoFi shares fell 1.7% to $14.30 in Monday trading, with volume about 38% below the average session level.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $22.20, despite one firm upgrading it to “Strong Buy.”
• SoFi exceeded quarterly expectations with $0.12 in EPS and $1.21 billion in revenue, up 42.5% year over year; meanwhile, insiders sold 40,113 shares worth approximately $702,417 over the last quarter.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 1.7% on Monday. The company traded as low as $14.27 and last traded at $14.30. Approximately 39,491,888 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 63,966,070 shares. The stock had previously closed at $14.55.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SOFI. Wells Fargo & Company reduced their target price 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. Benchmark raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Monday, October 12th. Weiss Ratings downgraded shares of SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, October 6th. Mizuho dropped their price target on shares of SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.20.

SoFi Technologies Stock Down 1.7%

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 cap of $18.47 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 0.84 and a beta of 2.33. The business has a 50-day simple moving average of $17.09 and a 200-day simple moving average of $17.12.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business posted $0.08 EPS. The business's quarterly revenue 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. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.60 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. The trade was a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the sale, the chief technology officer directly owned 912,650 shares in the company, valued at approximately $15,971,375. This represents a 2.00% 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. Insiders have sold a total of 40,113 shares of company stock valued at $702,417 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Assenagon Asset Management S.A. lifted its stake in SoFi Technologies by 7.7% in the third quarter. Assenagon Asset Management S.A. now owns 23,509 shares of the company's stock valued at $370,000 after buying an additional 1,675 shares during the last quarter. Lodestone Wealth Management LLC boosted its holdings in shares of SoFi Technologies by 11.5% in the third quarter. Lodestone Wealth Management LLC now owns 12,075 shares of the company's stock valued at $190,000 after acquiring an additional 1,244 shares during the period. Seelaus Asset Management LLC boosted its holdings in shares of SoFi Technologies by 16.1% in the third quarter. Seelaus Asset Management LLC now owns 12,753 shares of the company's stock valued at $200,000 after acquiring an additional 1,772 shares during the period. First Citizens Bank & Trust Co. purchased a new position in shares of SoFi Technologies during the third quarter worth approximately $445,000. Finally, Fearless Solutions LLC dba Best Invest grew its position in shares of SoFi Technologies by 38.6% during the third quarter. Fearless Solutions LLC dba Best Invest now owns 15,811 shares of the company's stock worth $249,000 after acquiring an additional 4,401 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi's offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.

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