SoFi Technologies (NASDAQ:SOFI) Trading Down 4.1% – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SOFI shares. JMP Securities reaffirmed a “market perform” rating and issued a $17.00 price objective on shares of SoFi Technologies in a research report on Monday, July 14th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Mizuho set a $38.00 price objective on shares of SoFi Technologies in a research report on Thursday, October 30th. Cowen started coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $25.06.

SoFi Technologies Stock Performance

The company’s 50 day moving average price is $27.38 and its 200-day moving average price is $20.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The company has a market cap of $35.17 billion, a PE ratio of 54.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 company had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. During the same quarter last year, the business posted $0.05 EPS. SoFi Technologies’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. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the transaction, the executive vice president directly owned 234,622 shares of the company’s stock, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 129,383 shares of company stock valued at $3,513,171. 2.60% of the stock is owned by insiders.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SOFI. Hazlett Burt & Watson Inc. lifted its stake in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. Salomon & Ludwin LLC purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $29,000. Finally, SJS Investment Consulting Inc. lifted its stake in SoFi Technologies by 840.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.