SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) traded up 2.9% on Monday . The stock traded as high as $16.66 and last traded at $16.50. 77,705,923 shares traded hands during trading, an increase of 19% from the average session volume of 65,340,809 shares. The stock had previously closed at $16.03.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Truist Financial dropped their price objective on shares of SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, May 12th. Morgan Stanley set a $16.00 price objective on shares of SoFi Technologies in a report on Thursday, April 30th. Weiss Ratings lowered shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, Citizens Jmp upgraded shares of SoFi Technologies from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average target price of $22.56.
View Our Latest Report on SOFI
SoFi Technologies Stock Up 2.9%
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $0.06 EPS. The firm’s revenue was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Anthony Noto acquired 15,545 shares of SoFi Technologies stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $16.00 per share, with a total value of $248,720.00. Following the transaction, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. This trade represents a 0.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,037 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $15.53, for a total transaction of $155,874.61. Following the completion of the sale, the executive vice president directly owned 323,247 shares of the company’s stock, valued at $5,020,025.91. The trade was a 3.01% decrease in their ownership of the stock. 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. Insiders have sold 124,479 shares of company stock worth $2,163,556 in the last quarter. Insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On SoFi Technologies
A number of institutional investors have recently added to or reduced their stakes in SOFI. Valley Wealth Managers Inc. bought a new stake in SoFi Technologies in the 4th quarter worth about $25,000. Blue Trust Inc. grew its position in SoFi Technologies by 655.2% in the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after purchasing an additional 878 shares in the last quarter. Vermillion Wealth Management Inc. grew its position in SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 739 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in SoFi Technologies in the 4th quarter worth about $28,000. Finally, Reflection Asset Management bought a new stake in SoFi Technologies in the 4th quarter worth about $28,000. 38.43% of the stock is 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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