SoFi Technologies (NASDAQ:SOFI) Stock Price Down 6.1% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares dropped 6.1% on Friday . The stock traded as low as $26.93 and last traded at $27.78. Approximately 135,239,884 shares were traded during trading, an increase of 109% from the average daily volume of 64,557,961 shares. The stock had previously closed at $29.60.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SOFI. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Barclays upped their target price on SoFi Technologies from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Finally, UBS Group lifted their price target on SoFi Technologies from $20.50 to $27.50 and gave the company a “neutral” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus price target of $24.88.

SoFi Technologies Price Performance

The business’s 50-day simple moving average is $28.21 and its two-hundred day simple moving average is $23.19. The stock has a market cap of $33.50 billion, a price-to-earnings ratio of 51.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The company had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. During the same period in the prior year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total value of $273,286.20. Following the completion of the transaction, the executive vice president 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. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 175,277 shares of company stock worth $4,694,595. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in SoFi Technologies in the first quarter valued at $28,000. SVB Wealth LLC bought a new stake in shares of SoFi Technologies in the 1st quarter valued at about $28,000. Salomon & Ludwin LLC acquired a new stake in shares of SoFi Technologies in the third quarter valued at about $29,000. SJS Investment Consulting Inc. increased its stake in shares of SoFi Technologies by 840.3% in the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares during the period. Finally, Strategic Investment Solutions Inc. IL raised its position in shares of SoFi Technologies by 693.5% during the third quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company’s stock worth $32,000 after acquiring an additional 1,075 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

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.