SoFi Technologies (NASDAQ:SOFI) Trading Down 1.5% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 1.5% during mid-day trading on Friday . The stock traded as low as $27.03 and last traded at $27.07. 24,487,497 shares were traded during mid-day trading, a decline of 61% from the average session volume of 63,409,465 shares. The stock had previously closed at $27.48.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays raised their target price on shares of 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 raised their price objective on shares of SoFi Technologies from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Needham & Company LLC lifted their price objective on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Truist Financial cut their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, November 25th. Finally, Keefe, Bruyette & Woods lifted their price target on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $25.69.

SoFi Technologies Stock Performance

The stock’s 50-day moving average price is $28.19 and its 200-day moving average price is $24.76. The company has a market capitalization of $32.64 billion, a price-to-earnings ratio of 50.13 and a beta of 1.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last released 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. The firm had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.SoFi Technologies’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 91,837 shares of SoFi Technologies stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the completion of the transaction, the chief technology officer owned 794,598 shares in the company, valued at approximately $21,168,090.72. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Arun Pinto sold 46,132 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the sale, the insider owned 138,396 shares in the company, valued at $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 167,813 shares of company stock valued at $4,403,334 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new position in shares of SoFi Technologies in the third quarter worth $29,000. SJS Investment Consulting Inc. boosted its stake in shares of SoFi Technologies by 840.3% during the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its position in SoFi Technologies by 693.5% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company’s stock worth $32,000 after purchasing an additional 1,075 shares in the last quarter. 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 worth $34,000 after purchasing an additional 450 shares in the last quarter. Finally, Assetmark Inc. raised its stake in SoFi Technologies by 50.5% in the 3rd 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. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

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.