SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.2% - Here's What Happened

Key Points

• SoFi Technologies shares fell 3.2% on Wednesday, trading as low as $16.96 after opening around $17.64, with volume running above average.
• Investor sentiment is being shaped by a mix of upcoming earnings expectations and cautionary signals, including analyst target cuts, a routine insider sale, and bearish commentary from short-seller Muddy Waters.
• Despite the stock’s pullback, SoFi’s latest results showed 42.6% revenue growth year over year and earnings that matched estimates, while analysts currently rate the stock a consensus Hold.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 3.2% on Wednesday . The stock traded as low as $16.96 and last traded at $17.07. 89,892,056 shares traded hands during mid-day trading, an increase of 29% from the average daily volume of 69,544,516 shares. The stock had previously closed at $17.64.

Key Headlines Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Wall Street expects SoFi to report earnings growth next week, and coverage from Zacks/Yahoo Finance says the company has signs of a possible earnings beat, which could support the stock if results and guidance come in strong.
• Positive Sentiment: Investor attention remains elevated, with SoFi showing up as a trending stock on Zacks, which can increase trading interest ahead of earnings.
• Positive Sentiment: Broader banking strength from JPMorgan Chase and Goldman Sachs has been highlighted as a potential tailwind for smaller financial firms like SoFi, suggesting improving sentiment for the sector.
• Neutral Sentiment: SoFi EVP Kelli Keough sold nearly 11,000 shares through a prearranged 10b5-1 plan, which is usually viewed as routine insider selling rather than a direct negative signal. Article Title
• Neutral Sentiment: Analysts and media are focusing on one key operating metric that could determine whether SoFi rallies or falls after Q2 earnings, underscoring that the stock may react sharply to management’s update. Article Title
• Negative Sentiment: Short-seller Muddy Waters reiterated a bearish view on SoFi, arguing that its accounting practices remain a concern, which could weigh on sentiment and keep volatility high.
• Negative Sentiment: A comparison piece from Yahoo Finance and Zacks argued that Dave may be the stronger fintech investment case in 2026, which can create competitive pressure on SoFi’s valuation narrative.

Analyst Ratings Changes

SOFI has been the subject of several recent research reports. TD Cowen decreased their price target on SoFi Technologies from $24.00 to $18.00 and set a "hold" rating for the company in a report on Thursday, April 30th. Needham & Company LLC reduced their target price on shares of SoFi Technologies from $33.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Stephens lowered their target price on shares of SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Argus initiated coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They set a "hold" rating on the stock. Finally, Citigroup cut their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $22.78.

SoFi Technologies Price Performance

The stock has a fifty day moving average of $17.15 and a two-hundred day moving average of $18.98. The stock has a market cap of $21.90 billion, a price-to-earnings ratio of 38.80 and a beta of 2.14. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.SoFi Technologies's quarterly revenue was up 42.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,954 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the transaction, the executive vice president directly owned 378,682 shares of the company's stock, valued at approximately $6,570,132.70. This trade represents a 2.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares of the company's stock, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 124,302 shares of company stock worth $2,182,523 over the last 90 days. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. Capital Advisors Wealth Management LLC raised its stake in shares of SoFi Technologies by 0.4% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company's stock valued at $2,866,000 after purchasing an additional 401 shares in the last quarter. First Horizon Corp grew its stake in SoFi Technologies by 14.9% in the fourth quarter. First Horizon Corp now owns 3,116 shares of the company's stock worth $82,000 after purchasing an additional 405 shares in the last quarter. Cigna Investments Inc. New increased its holdings in SoFi Technologies by 3.8% in the fourth quarter. Cigna Investments Inc. New now owns 11,440 shares of the company's stock valued at $299,000 after buying an additional 416 shares during the last quarter. Wealthspan Partners LLC increased its holdings in SoFi Technologies by 2.4% in the fourth quarter. Wealthspan Partners LLC now owns 18,901 shares of the company's stock valued at $495,000 after buying an additional 450 shares during the last quarter. Finally, ORG Partners LLC raised its stake in SoFi Technologies by 31.6% during the fourth quarter. ORG Partners LLC now owns 1,892 shares of the company's stock valued at $50,000 after buying an additional 454 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.