SoFi Technologies (NASDAQ:SOFI) Shares Down 1.1% - Here's What Happened

Key Points

• SoFi Technologies' stock fell by 1.1% to $28.12, with a trading volume decrease of 19% compared to its average session.
• Analysts have set varied price targets for SoFi Technologies, with an average rating of "Hold" and a consensus price target of $19.88.
• The company recently reported quarterly earnings with an EPS of $0.08, exceeding expectations, but its revenue of $519.37 million fell short of analyst estimates of $801.94 million.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded down 1.1% during trading on Thursday . The stock traded as low as $27.06 and last traded at $28.12. 49,641,843 shares traded hands during trading, a decline of 19% from the average session volume of 61,250,117 shares. The stock had previously closed at $28.44.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Cowen assumed coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating on the stock. Stephens began coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective for the company. Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research note on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, TD Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $19.88.

SoFi Technologies Trading Down 1.1%

The company has a market capitalization of $33.67 billion, a PE ratio of 58.58, a price-to-earnings-growth ratio of 3.46 and a beta of 1.93. The company's fifty day moving average is $24.29 and its 200-day moving average is $17.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies's revenue was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,614 shares of company stock worth $3,452,672 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after buying an additional 1,130,250 shares in the last quarter. CMG Global Holdings LLC lifted its holdings in SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after purchasing an additional 61,443 shares in the last quarter. Nicholas Wealth LLC. purchased a new position in SoFi Technologies during the first quarter valued at $993,000. Quantitative Investment Management LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at about $2,862,000. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at about $9,715,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.

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