SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.3% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 2.3% during mid-day trading on Monday . The stock traded as low as $28.67 and last traded at $29.03. Approximately 46,883,597 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 64,325,332 shares. The stock had previously closed at $29.72.

Analysts Set New Price Targets

SOFI has been the topic of a number of research analyst reports. Citigroup lifted their target price on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Truist Financial dropped their price target on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, November 25th. Mizuho set a $38.00 price objective on SoFi Technologies in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Finally, BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.88.

SoFi Technologies Stock Performance

The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $28.17 and a 200-day moving average price of $22.88. The firm has a market cap of $35.01 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company’s revenue for the quarter 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. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction 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. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,340 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the transaction, the executive vice president directly owned 265,034 shares of the company’s stock, valued at $7,004,848.62. This represents a 3.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,277 shares of company stock valued at $4,694,595 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after purchasing an additional 6,814,727 shares during the period. State Street Corp boosted its holdings in SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after buying an additional 5,708,053 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SoFi Technologies by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 9,792,807 shares of the company’s stock worth $258,821,000 after buying an additional 67,504 shares during the period. Norges Bank purchased a new position in SoFi Technologies in the second quarter valued at about $164,068,000. Finally, Marshall Wace LLP lifted its position in shares of SoFi Technologies by 88.2% during the 2nd quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after acquiring an additional 3,748,817 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

About SoFi Technologies

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.