SoFi Technologies (NASDAQ:SOFI) Trading Down 5.4% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 5.4% on Monday . The stock traded as low as $25.79 and last traded at $25.82. 49,587,272 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 64,337,090 shares. The stock had previously closed at $27.28.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SOFI. The Goldman Sachs Group lifted 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. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 29th. Truist Financial reduced their price objective on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, November 25th. Finally, Morgan Stanley lifted their price objective on SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.69.

SoFi Technologies Trading Down 4.9%

The business has a fifty day moving average of $28.26 and a two-hundred day moving average of $24.11. The firm has a market cap of $30.47 billion, a price-to-earnings ratio of 46.80 and a beta of 1.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million for 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%.SoFi Technologies’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the business 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 expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,340 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction 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 approximately $7,004,848.62. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the transaction, the insider directly owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. This trade represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 175,277 shares of company stock valued at $4,694,595 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of SoFi Technologies by 12.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company’s stock valued at $88,864,000 after buying an additional 540,610 shares during the last quarter. Sullivan Wood Capital Management LLC acquired a new position in SoFi Technologies in the second quarter valued at approximately $2,799,000. Blair William & Co. IL grew its holdings in shares of SoFi Technologies by 443.9% during the second quarter. Blair William & Co. IL now owns 335,698 shares of the company’s stock valued at $6,113,000 after purchasing an additional 273,972 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in shares of SoFi Technologies during the 2nd quarter worth approximately $209,000. Finally, Quantbot Technologies LP bought a new stake in shares of SoFi Technologies in the 2nd quarter worth approximately $25,699,000. Hedge funds and other 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.