SoFi Technologies (NASDAQ:SOFI) Trading Down 4.1% - Here's Why

Key Points

• SoFi Technologies' stock price fell 4.1% to last trade at $29.37, after reaching a low of $28.69 during the day, with a trading volume increase of 8% from its average.
• Analysts have mixed ratings on SoFi Technologies, with a consensus rating of “Hold” and an average price target of $25.06, reflecting a variety of opinions on the stock's future performance.
• The company reported a quarterly revenue of $949.63 million, exceeding estimates, and a net margin of 19.29%, indicating strong year-over-year growth compared to the previous quarter's earnings.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price dropped 4.1% during trading on Tuesday . The company traded as low as $28.69 and last traded at $29.37. Approximately 68,634,276 shares were traded during trading, an increase of 8% from the average daily volume of 63,449,953 shares. The stock had previously closed at $30.63.

Analyst Ratings Changes

SOFI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an "underperform" rating in a report on Wednesday, October 29th. Jefferies Financial Group reiterated a "buy" rating and set a $35.00 price target on shares of SoFi Technologies in a report on Tuesday, October 28th. Citizens Jmp lowered shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $24.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, October 29th. Finally, Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, SoFi Technologies has a consensus rating of "Hold" and an average price target of $25.06.

SoFi Technologies Stock Down 4.1%

The firm's fifty day moving average price is $27.38 and its two-hundred day moving average price is $20.80. The stock has a market cap of $35.17 billion, a price-to-earnings ratio of 54.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.52%. The firm had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The business's quarterly revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Jeremy Rishel sold 98,733 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 129,383 shares of company stock worth $3,513,171 in the last quarter. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in SoFi Technologies during the 3rd quarter worth approximately $284,000. Penserra Capital Management LLC raised its stake in shares of SoFi Technologies by 186.8% in the third quarter. Penserra Capital Management LLC now owns 69,141 shares of the company's stock worth $1,826,000 after purchasing an additional 45,032 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of SoFi Technologies in the third quarter worth approximately $6,151,000. Guerra Advisors Inc purchased a new stake in shares of SoFi Technologies in the third quarter worth approximately $88,000. Finally, Jones Financial Companies Lllp raised its stake in shares of SoFi Technologies by 15.2% in the third quarter. Jones Financial Companies Lllp now owns 458,703 shares of the company's stock worth $12,835,000 after purchasing an additional 60,676 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

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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