Shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) rose 2.8% on Wednesday . The stock traded as high as $18.83 and last traded at $18.44. 80,867,505 shares changed hands during trading, an increase of 19% from the average daily volume of 67,949,758 shares. The stock had previously closed at $17.93.
Key SoFi Technologies News
Here are the key news stories impacting SoFi Technologies this week:
- Positive Sentiment: SoFi launched small business loans up to $250,000, broadening its lending business and giving the company another way to cross-sell financial products to members. Article Title
- Positive Sentiment: Analysts and commentators highlighted SoFi’s strong revenue growth, expanding member base, and improving margins, reinforcing the bullish case that the stock may still have room to run. Article Title
- Positive Sentiment: SoFi is also being discussed as a potential S&P 500 inclusion candidate, which would be a meaningful tailwind if it happens because index funds could be forced to buy shares. Article Title
- Neutral Sentiment: Some valuation-focused coverage argued that SoFi now looks expensive on fair-value and earnings measures, which may temper enthusiasm even as the business continues to grow. Article Title
- Neutral Sentiment: Cathie Wood-related trading chatter provided some added attention, but the article did not indicate a SoFi-specific catalyst by itself. Article Title
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $18.00 price target on shares of SoFi Technologies in a research report on Thursday, April 30th. Wells Fargo & Company lowered their price objective on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $17.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Stephens cut their target price on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods decreased their target price on SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.56.
SoFi Technologies Stock Up 2.8%
The firm’s 50-day moving average price is $16.93 and its 200 day moving average price is $19.90. The firm has a market cap of $23.65 billion, a P/E ratio of 41.91 and a beta of 2.14. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. SoFi Technologies’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.
Insider Buying and Selling
In other news, EVP Kelli Keough sold 10,954 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the transaction, the executive vice president owned 378,682 shares of the company’s stock, valued at approximately $6,570,132.70. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares in the company, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 134,044 shares of company stock valued at $2,370,056 in the last three months. 2.50% of the stock is currently owned by corporate insiders.
Institutional Trading of SoFi Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock worth $2,906,061,000 after purchasing an additional 3,900,895 shares in the last quarter. State Street Corp increased its position in shares of SoFi Technologies by 6.7% during the 4th quarter. State Street Corp now owns 25,937,928 shares of the company’s stock valued at $679,055,000 after purchasing an additional 1,637,430 shares during the period. Geode Capital Management LLC raised its stake in shares of SoFi Technologies by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock worth $618,395,000 after buying an additional 1,951,248 shares in the last quarter. Morgan Stanley raised its stake in shares of SoFi Technologies by 33.6% in the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after buying an additional 3,350,258 shares in the last quarter. Finally, Norges Bank acquired a new stake in SoFi Technologies in the 4th quarter valued at about $321,515,000. 38.43% of the stock is currently owned by institutional investors.
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.
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