SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.7% - Here's What Happened

Key Points

• Sofi Technologies' stock price decreased by 3.7% on Tuesday, trading as low as $23.18, with a significant drop in trading volume of 51% compared to its average.
• Analyst ratings are mixed, with recommendations ranging from a Strong Buy to Sell, and an average target price of $18.29.
• In its latest earnings report, SoFi posted an EPS of $0.08, surpassing estimates, but revenue fell short at $519.37 million against the expected $801.94 million.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 3.7% on Tuesday . The stock traded as low as $23.18 and last traded at $23.33. 29,435,250 shares changed hands during trading, a decline of 51% from the average session volume of 59,989,512 shares. The stock had previously closed at $24.23.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Needham & Company LLC increased their target price on SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Barclays increased their target price on SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Rothschild & Co Redburn initiated coverage on SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective on the stock. Truist Financial set a $23.00 target price on SoFi Technologies in a research report on Monday, August 4th. Finally, The Goldman Sachs Group assumed coverage on SoFi Technologies in a research report on Monday, July 14th. They set a "neutral" rating and a $19.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.29.

SoFi Technologies Stock Performance

The company has a 50-day moving average of $19.62 and a 200-day moving average of $15.31. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The company has a market cap of $27.89 billion, a PE ratio of 48.49, a PEG ratio of 2.94 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. During the same period in the previous year, the company posted $0.01 earnings per share. The business'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. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,267 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $21.80, for a total transaction of $223,820.60. Following the completion of the sale, the executive vice president directly owned 245,200 shares in the company, valued at $5,345,360. This represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 261,661 shares of company stock worth $3,889,103. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Soltis Investment Advisors LLC raised its stake in shares of SoFi Technologies by 1.8% during the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company's stock worth $518,000 after buying an additional 501 shares during the last quarter. AE Wealth Management LLC increased its stake in SoFi Technologies by 2.8% in the second quarter. AE Wealth Management LLC now owns 18,620 shares of the company's stock valued at $339,000 after purchasing an additional 514 shares in the last quarter. Burney Co. boosted its holdings in shares of SoFi Technologies by 0.4% in the second quarter. Burney Co. now owns 147,136 shares of the company's stock valued at $2,679,000 after buying an additional 557 shares during the period. Drive Wealth Management LLC boosted its holdings in shares of SoFi Technologies by 1.4% in the second quarter. Drive Wealth Management LLC now owns 40,546 shares of the company's stock valued at $738,000 after buying an additional 563 shares during the period. Finally, Elequin Capital LP boosted its holdings in shares of SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after buying an additional 631 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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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