SoFi Technologies (NASDAQ:SOFI) Trading Down 2.3% - Here's Why

Key Points

• SoFi Technologies' stock traded down 2.3% to $25.45, with significant trading volume dropping by 66% compared to its average.
• Analyst ratings for SoFi are mixed, with one Strong Buy, six Buy, eleven Hold, and three Sell ratings, while the consensus target price is around $19.35.
• In recent transactions, insiders sold a total of 272,239 shares, reflecting a notable reduction in their stakes in the company.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 2.3% on Friday . The stock traded as low as $25.22 and last traded at $25.45. 21,060,854 shares were traded during mid-day trading, a decline of 66% from the average session volume of 61,072,039 shares. The stock had previously closed at $26.04.

Analyst Upgrades and Downgrades

SOFI has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Morgan Stanley reiterated an "underweight" rating and set a $13.00 price target (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. TD Cowen initiated coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating and a $21.00 price target for the company. Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a research report on Monday, July 14th. They set a "neutral" rating and a $19.00 price target for the company. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and a consensus target price of $19.35.

SoFi Technologies Stock Performance

The stock has a market cap of $30.55 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 3.09 and a beta of 1.93. The stock's fifty day moving average is $21.17 and its 200-day moving average is $15.83. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $801.94 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. The business's revenue for the quarter was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction 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 sale, the director owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,239 shares of company stock valued at $4,123,194. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 0.8% in the second quarter. Vanguard Group Inc. now owns 100,287,485 shares of the company's stock worth $1,826,235,000 after purchasing an additional 820,190 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of SoFi Technologies in the fourth quarter worth $299,980,000. Norges Bank acquired a new position in SoFi Technologies during the second quarter worth $164,068,000. Marshall Wace LLP increased its holdings in SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company's stock worth $145,628,000 after buying an additional 3,748,817 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in SoFi Technologies by 2.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 6,628,309 shares of the company's stock worth $120,702,000 after buying an additional 155,583 shares during the last quarter. Institutional investors 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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