SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.8% - Here's What Happened

Key Points

• SoFi shares fell 3.8% to $17.33 in midday trading, with volume at 35.7 million shares—46% below the average session volume.
• Analyst sentiment remains mixed: nine analysts rate the stock a Buy, 11 a Hold and three a Sell, resulting in a consensus Hold rating and a $22.52 target price.
• SoFi reported strong quarterly results, with EPS of $0.12 beating estimates and revenue rising 42.5% year over year to $1.21 billion. Meanwhile, major institutions increased their positions, while insiders sold 136,505 shares over the past quarter under pre-arranged trading plans.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 3.8% on Wednesday . The company traded as low as $17.33 and last traded at $17.33. 35,662,505 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 66,639,680 shares. The stock had previously closed at $18.01.

Analyst Ratings Changes

Several research firms have weighed in on SOFI. 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. Mizuho reduced their target price on SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Piper Sandler assumed coverage on SoFi Technologies in a report on Monday, August 17th. They set an "overweight" rating and a $22.00 target price on the stock. Wells Fargo & Company cut their price target 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. Finally, Scotiabank initiated coverage on SoFi Technologies in a research note on Wednesday, September 2nd. They set a "sector outperform" rating and a $25.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $22.52.

SoFi Technologies Stock Performance

The stock has a market cap of $22.38 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 1.50 and a beta of 2.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The stock's 50-day moving average is $17.89 and its 200-day moving average is $17.44.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.08 EPS. SoFi Technologies'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. Analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 102,123 shares of the firm's 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 sale, the chief technology officer directly owned 895,089 shares of the company's stock, valued at approximately $15,914,682.42. This trade represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 sale, the executive vice president owned 356,442 shares of the company's stock, valued at approximately $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 136,505 shares of company stock worth $2,418,096. Insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in SoFi Technologies during the second quarter worth about $1,298,925,000. California State Teachers Retirement System lifted 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 in the last quarter. State Street Corp grew its holdings in shares of SoFi Technologies by 6.7% during the 4th quarter. State Street Corp now owns 25,937,928 shares of the company's stock worth $679,055,000 after purchasing an additional 1,637,430 shares during the period. Geode Capital Management LLC increased its position in SoFi Technologies by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock worth $618,395,000 after purchasing an additional 1,951,248 shares in the last quarter. Finally, Morgan Stanley increased its position 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 purchasing an additional 3,350,258 shares in the last quarter. 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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