Shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) dropped 3.9% during mid-day trading on Monday. The company traded as low as $15.87 and last traded at $15.93. 58,064,047 shares were traded during trading, a decline of 11% from the average daily volume of 65,396,031 shares. The stock had previously closed at $16.58.
Analysts Set New Price Targets
A number of research firms have recently commented on SOFI. Piper Sandler assumed coverage on SoFi Technologies in a report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price objective on the stock. Scotiabank began coverage on SoFi Technologies in a report on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 target price for the company. Wells Fargo & Company dropped their target price on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Loop Capital started coverage on shares of SoFi Technologies in a research note on Tuesday, September 8th. They set a “hold” rating and a $22.00 price objective for the company. Nine investment 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.com, the company currently has a consensus rating of “Hold” and an average price target of $22.52.
Get Our Latest Stock Analysis on SoFi Technologies
SoFi Technologies Stock Down 3.9%
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $0.08 earnings per share. The company’s revenue was up 42.5% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.6 EPS for the current fiscal year.
Insider Buying and Selling
In other SoFi Technologies news, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the sale, the chief technology officer owned 912,650 shares of the company’s stock, valued at $15,971,375. This trade represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 11,286 shares of SoFi Technologies stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the sale, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. This represents a 3.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 51,067 shares of company stock valued at $890,716. 2.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On SoFi Technologies
A number of large investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in SoFi Technologies by 5.8% during the 2nd quarter. QRG Capital Management Inc. now owns 154,404 shares of the company’s stock worth $2,769,000 after buying an additional 8,449 shares during the period. Reynders McVeigh Capital Management LLC boosted its position in SoFi Technologies by 2.6% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 699,538 shares of the company’s stock valued at $12,543,000 after buying an additional 17,744 shares during the last quarter. Tidal Investments LLC grew its stake in shares of SoFi Technologies by 39.0% during the second quarter. Tidal Investments LLC now owns 538,067 shares of the company’s stock valued at $9,648,000 after acquiring an additional 150,923 shares in the last quarter. Bienville Capital Management LLC acquired a new stake in shares of SoFi Technologies during the second quarter valued at about $27,386,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of SoFi Technologies during the second quarter valued at about $186,000. 38.43% of the stock is owned by institutional investors and hedge funds.
About SoFi Technologies
SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.
Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.
SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.
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