SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) shares were up 2.7% during trading on Thursday . The stock traded as high as $18.65 and last traded at $18.43. 61,573,902 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 69,625,898 shares. The stock had previously closed at $17.94.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Stephens reduced their price target on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Truist Financial lifted their price objective on shares of SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday. Citigroup dropped their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $18.00 price objective on shares of SoFi Technologies in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.44.
Get Our Latest Analysis on SoFi Technologies
SoFi Technologies Trading Up 2.7%
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.39%. The company’s revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.
Insider Activity
In other SoFi Technologies news, EVP Kelli Keough sold 10,954 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $17.19, for a total value of $188,299.26. Following the sale, the executive vice president owned 367,728 shares of the company’s stock, valued at $6,321,244.32. This trade represents a 2.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the sale, the chief technology officer owned 895,089 shares in the company, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last ninety days, insiders sold 135,256 shares of company stock worth $2,370,822. 2.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after purchasing an additional 14,281 shares in the last quarter. Caxton Associates LLP acquired a new position in SoFi Technologies in the first quarter valued at about $129,000. Empowered Funds LLC boosted its position in SoFi Technologies by 5.2% in the first quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock valued at $385,000 after buying an additional 1,631 shares in the last quarter. Franklin Resources Inc. grew its stake in SoFi Technologies by 23.2% during the second quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock worth $251,000 after buying an additional 2,596 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in SoFi Technologies during the second quarter worth about $4,633,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.
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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