SoFi Technologies (NASDAQ:SOFI) Trading Down 1.6% - Should You Sell?

Key Points

• SoFi shares fell 1.6% on Monday, trading as low as $16.97 and finishing near $17.01 on heavy volume that was above its daily average.
• Analysts remain cautious overall: several firms cut price targets recently, and MarketBeat shows an average rating of “Hold” with a consensus price target of $22.78.
• Business results were solid in the latest quarter, with earnings of $0.12 per share matching estimates and revenue rising 42.6% year over year to $1.09 billion; CEO Anthony Noto also bought shares, while some other insiders sold.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 1.6% during trading on Monday . The stock traded as low as $16.97 and last traded at $17.01. Approximately 80,508,499 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 69,266,320 shares. The stock had previously closed at $17.28.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SOFI. Truist Financial decreased their price target on shares of SoFi Technologies from $20.00 to $17.00 and set a "hold" rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC dropped their price objective 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 price target on shares of SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Morgan Stanley set a $16.00 price target on SoFi Technologies in a research report on Thursday, April 30th. Finally, Wells Fargo & Company reduced their price objective on SoFi Technologies from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 9th. Seven 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $22.78.

SoFi Technologies Stock Down 1.6%

The company has a market cap of $21.82 billion, a P/E ratio of 38.66 and a beta of 2.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. The business's fifty day moving average is $17.10 and its two-hundred day moving average is $19.11.

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

Insider Buying and Selling

In other news, CEO Anthony Noto bought 15,545 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $16.00 per share, with a total value of $248,720.00. Following the completion of the transaction, the chief executive officer directly owned 11,946,619 shares of the company's stock, valued at approximately $191,145,904. The trade was a 0.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 10,954 shares of SoFi Technologies stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.35, for a total transaction of $190,051.90. Following the completion of the transaction, the executive vice president directly owned 378,682 shares in the company, valued at $6,570,132.70. This represents a 2.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 134,044 shares of company stock worth $2,370,056 in the last 90 days. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently modified their holdings of the business. Lake Street Private Wealth LLC lifted its stake in shares of SoFi Technologies by 4.9% during the fourth quarter. Lake Street Private Wealth LLC now owns 8,368 shares of the company's stock valued at $219,000 after buying an additional 390 shares during the period. Capital Advisors Wealth Management LLC grew its stake in SoFi Technologies by 0.4% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company's stock worth $2,866,000 after acquiring an additional 401 shares during the period. First Horizon Corp grew its stake in SoFi Technologies by 14.9% in the 4th quarter. First Horizon Corp now owns 3,116 shares of the company's stock worth $82,000 after acquiring an additional 405 shares during the period. Cigna Investments Inc. New raised its holdings in SoFi Technologies by 3.8% in the 4th quarter. Cigna Investments Inc. New now owns 11,440 shares of the company's stock valued at $299,000 after acquiring an additional 416 shares during the last quarter. Finally, Wealthspan Partners LLC raised its holdings in SoFi Technologies by 2.4% in the 4th quarter. Wealthspan Partners LLC now owns 18,901 shares of the company's stock valued at $495,000 after acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Company Profile

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.