SoFi Technologies (NASDAQ:SOFI) Shares Down 5.1% - Here's What Happened

Key Points

• Shares of SoFi Technologies fell 5.1% to a last trading price of $26.60, with 72.5 million shares traded, exceeding its average volume.
• Analysts have mixed views on SoFi, with price target upgrades from several firms; the consensus rating is "Hold" with an average price target of $20.71.
• The company reported $519.37 million in revenue for the latest quarter, although it was below analysts' forecasts of $801.94 million, with an EPS of $0.08 exceeding expectations.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded down 5.1% during trading on Thursday . The stock traded as low as $26.25 and last traded at $26.60. 72,484,074 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 62,528,941 shares. The stock had previously closed at $28.03.

Analyst Ratings Changes

A number of analysts have issued reports on SOFI shares. Keefe, Bruyette & Woods boosted their price objective on shares of SoFi Technologies from $14.00 to $18.00 and gave the company an "underperform" rating in a report on Wednesday. Barclays boosted their price target on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Monday. Finally, Cowen initiated coverage on SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.71.

SoFi Technologies Stock Performance

The stock has a fifty day simple moving average of $25.95 and a two-hundred day simple moving average of $18.96. The stock has a market cap of $31.85 billion, a price-to-earnings ratio of 55.42, a P/E/G ratio of 3.31 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

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

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 98,733 shares of the business's 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 transaction, the chief technology officer owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares of the company's stock, valued at $5,192,184.86. This trade represents a 4.31% 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 valued at $3,452,672 in the last three months. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the business. CMG Global Holdings LLC increased its holdings in SoFi Technologies by 7.3% in the 3rd quarter. CMG Global Holdings LLC now owns 228,586 shares of the company's stock worth $6,407,000 after purchasing an additional 15,560 shares in the last quarter. Highland Capital Management LLC increased its holdings in SoFi Technologies by 385.3% in the 3rd quarter. Highland Capital Management LLC now owns 71,751 shares of the company's stock worth $1,896,000 after purchasing an additional 56,967 shares in the last quarter. HBK Sorce Advisory LLC acquired a new position in SoFi Technologies in the 3rd quarter worth about $242,000. Yeomans Consulting Group Inc. acquired a new position in SoFi Technologies in the 3rd quarter worth about $460,000. Finally, Norden Group LLC acquired a new position in SoFi Technologies in the 3rd quarter worth about $238,000. Institutional investors and hedge funds own 38.43% of the company's stock.

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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