SoFi Technologies (NASDAQ:SOFI) Trading Down 6.8% - Time to Sell?

Key Points

• Shares fell 6.8% intraday to $24.91 on heavy volume (95,290,930 shares, +48% vs. average), trading roughly in line with the consensus target of $25.06.
• SoFi beat Q3 estimates with EPS of $0.11 versus $0.09 expected and revenue of $949.6M versus $880.3M, up 37.7% year-over-year, and set FY2025 guidance at 0.37 EPS.
• Analysts are mixed but the consensus rating is a Hold despite some target upgrades, and insiders have sold about 118,805 shares in the last three months while institutions own roughly 38.4% of the stock.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 6.8% during mid-day trading on Thursday . The stock traded as low as $24.75 and last traded at $24.91. 95,290,930 shares traded hands during trading, an increase of 48% from the average session volume of 64,515,910 shares. The stock had previously closed at $26.72.

Analyst Ratings Changes

A number of equities analysts have commented on SOFI shares. Barclays lifted their price target on SoFi Technologies from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 29th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Truist Financial increased their price target on shares of SoFi Technologies from $29.00 to $31.00 and gave the company a "hold" rating in a research report on Tuesday, November 4th. Finally, Mizuho set a $38.00 price objective on shares of SoFi Technologies in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and a consensus target price of $25.06.

SoFi Technologies Price Performance

The company has a market cap of $30.04 billion, a PE ratio of 46.13, a price-to-earnings-growth ratio of 2.56 and a beta of 1.93. The business has a 50 day moving average of $28.17 and a 200 day moving average of $22.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. During the same period in the previous year, the firm earned $0.05 EPS. The company'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. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 10,036 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $28.33, for a total value of $284,319.88. Following the sale, the executive vice president directly owned 275,374 shares in the company, valued at approximately $7,801,345.42. The trade was a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 118,805 shares of company stock valued at $3,279,080. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xcel Wealth Management LLC raised its holdings in SoFi Technologies by 0.6% in the third quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company's stock worth $1,874,000 after purchasing an additional 392 shares in the last quarter. Key Client Fiduciary Advisors LLC increased its stake in shares of SoFi Technologies by 3.1% during the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company's stock valued at $373,000 after purchasing an additional 419 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company's stock valued at $34,000 after purchasing an additional 427 shares during the last quarter. Cigna Investments Inc. New boosted its position in shares of SoFi Technologies by 4.2% in the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company's stock worth $291,000 after purchasing an additional 446 shares in the last quarter. Finally, Blume Capital Management Inc. increased its position in SoFi Technologies by 52.9% during the 3rd quarter. Blume Capital Management Inc. now owns 1,300 shares of the company's stock valued at $34,000 after buying an additional 450 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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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