SoFi Technologies (NASDAQ:SOFI) Shares Down 11.9% - Should You Sell?

Key Points

• Shares of SoFi Technologies were down 11.9% Thursday to $28.39, with about 116.1 million shares traded—an 81% increase over average volume.
• SoFi beat Q3 estimates (EPS $0.11 vs $0.09; revenue $949.6M vs $880.3M, +37.7% YoY) and set FY2025 guidance of 0.37 EPS versus analysts' average forecast of 0.26.
• The market consensus is a Hold with a $25.06 target below the current price, and insiders have sold roughly 129,383 shares in the past 90 days.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 11.9% on Thursday . The stock traded as low as $28.15 and last traded at $28.39. Approximately 116,092,788 shares traded hands during trading, an increase of 81% from the average daily volume of 64,185,344 shares. The stock had previously closed at $32.21.

Analysts Set New Price Targets

Several brokerages recently weighed in on SOFI. Rothschild & Co Redburn assumed coverage on SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective for the company. UBS Group boosted their price target on SoFi Technologies from $20.50 to $27.50 and gave the company a "neutral" rating in a report on Thursday, October 30th. Truist Financial upped their price target on SoFi Technologies from $29.00 to $31.00 and gave the company a "hold" rating in a research report on Tuesday, November 4th. Morgan Stanley increased their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. Finally, BTIG Research restated a "neutral" rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $25.06.

SoFi Technologies Trading Down 11.9%

The firm's fifty day moving average price is $28.01 and its 200-day moving average price is $21.63. The company has a market cap of $34.00 billion, a price-to-earnings ratio of 52.58, a P/E/G ratio of 3.02 and a beta of 1.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. SoFi Technologies's quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $28.33, for a total value of $284,319.88. Following the completion of the transaction, the executive vice president directly owned 275,374 shares of the company's stock, valued at $7,801,345.42. This trade represents a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 129,383 shares of company stock worth $3,513,171. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the company. Xcel Wealth Management LLC boosted its position in SoFi Technologies by 0.6% during the third quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company's stock valued at $1,874,000 after purchasing an additional 392 shares during the last quarter. Key Client Fiduciary Advisors LLC increased its position in SoFi Technologies by 3.1% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company's stock worth $373,000 after purchasing an additional 419 shares during the last quarter. Assetmark Inc. raised its stake in shares of SoFi Technologies by 50.5% during the 3rd quarter. Assetmark Inc. now owns 1,273 shares of the company's stock worth $34,000 after purchasing an additional 427 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of SoFi Technologies by 4.2% during the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company's stock valued at $291,000 after buying an additional 446 shares during the last quarter. Finally, Blume Capital Management Inc. grew its stake in shares of SoFi Technologies by 52.9% in the 3rd quarter. Blume Capital Management Inc. now owns 1,300 shares of the company's stock valued at $34,000 after buying an additional 450 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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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