SoFi Technologies (NASDAQ:SOFI) Shares Down 1.5% - Here's What Happened

Key Points

• SoFi Technologies' stock price fell by 1.5% to $27.55 during mid-day trading, with a total of 59.71 million shares traded.
• Analysts have mixed ratings for SoFi Technologies, with one "Strong Buy," six "Buy," eleven "Hold," and three "Sell" ratings; the consensus target price is estimated at $20.18.
• In the last quarter, SoFi reported earnings of $0.08 per share, surpassing estimates, but its revenue was $519.37 million, significantly below analyst expectations of $801.94 million.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price dropped 1.5% during mid-day trading on Monday . The company traded as low as $27.11 and last traded at $27.55. Approximately 59,710,136 shares traded hands during trading, a decline of 2% from the average daily volume of 61,109,770 shares. The stock had previously closed at $27.98.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citizens Jmp cut SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. Truist Financial set a $23.00 price objective on SoFi Technologies in a research note on Monday, August 4th. Morgan Stanley upped their target price on SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a research report on Monday. Cowen started coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating for the company. Finally, Rothschild & Co Redburn started coverage on shares of SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.18.

SoFi Technologies Price Performance

The stock's fifty day moving average is $24.54 and its 200-day moving average is $17.74. The stock has a market capitalization of $32.99 billion, a PE ratio of 57.40, a P/E/G ratio of 3.32 and a beta of 1.93. 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 announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The firm's quarterly revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares of the company's stock, valued at $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,036 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.86, for a total transaction of $279,602.96. Following the transaction, the executive vice president directly owned 285,410 shares in the company, valued at approximately $7,951,522.60. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,614 shares of company stock worth $3,452,672 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently made changes to their positions in SOFI. Hazlett Burt & Watson Inc. lifted its holdings in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at about $28,000. SVB Wealth LLC purchased a new position in shares of SoFi Technologies in the first quarter worth about $28,000. TD Private Client Wealth LLC boosted its position in SoFi Technologies by 153.9% during the second quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company's stock worth $47,000 after acquiring an additional 1,553 shares during the last quarter. Finally, Garde Capital Inc. acquired a new position in SoFi Technologies during the first quarter worth about $31,000. 38.43% of the stock is owned by institutional investors and hedge funds.

About SoFi Technologies

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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