SoFi Technologies (NASDAQ:SOFI) Shares Down 9.7% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price dropped 9.7% during mid-day trading on Thursday . The company traded as low as $27.13 and last traded at $27.16. Approximately 86,978,203 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 63,571,754 shares. The stock had previously closed at $30.07.

Analysts Set New Price Targets

Several brokerages have recently commented on SOFI. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 target price on shares of SoFi Technologies in a report on Tuesday, October 28th. Truist Financial boosted their price objective on SoFi Technologies from $29.00 to $31.00 and gave the stock a “hold” rating in a research note on Tuesday. BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Finally, Needham & Company LLC upped their price target 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. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.06.

SoFi Technologies Stock Up 3.9%

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The firm has a market cap of $33.78 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 2.65 and a beta of 1.93. The firm has a 50 day moving average price of $27.64 and a 200-day moving average price of $21.16.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.52% and a net margin of 19.29%.The company’s revenue was up 37.7% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 98,733 shares of the 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 transaction, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 10,036 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $28.33, for a total transaction of $284,319.88. Following the completion of the transaction, the executive vice president directly owned 275,374 shares in the company, valued at approximately $7,801,345.42. The trade was a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 129,383 shares of company stock valued at $3,513,171. 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 added to or reduced their stakes in SOFI. Brighton Jones LLC increased its stake in shares of SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after acquiring an additional 14,281 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in SoFi Technologies by 21.4% during the first quarter. OneDigital Investment Advisors LLC now owns 29,971 shares of the company’s stock valued at $349,000 after purchasing an additional 5,292 shares during the period. World Investment Advisors increased its stake in SoFi Technologies by 6.7% in the first quarter. World Investment Advisors now owns 23,818 shares of the company’s stock valued at $277,000 after purchasing an additional 1,488 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in SoFi Technologies by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 3,261,225 shares of the company’s stock worth $37,928,000 after purchasing an additional 37,855 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in SoFi Technologies by 27.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 15,933 shares of the company’s stock worth $185,000 after purchasing an additional 3,437 shares during the period. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.