SoFi Technologies (NASDAQ:SOFI) Trading Up 2.3% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 2.3% during mid-day trading on Tuesday . The stock traded as high as $16.95 and last traded at $15.98. 79,872,971 shares were traded during trading, an increase of 26% from the average session volume of 63,642,348 shares. The stock had previously closed at $15.62.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Stephens reduced their price target on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley set a $16.00 price target on shares of SoFi Technologies in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Finally, UBS Group reduced their price target on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $22.56.

SoFi Technologies Trading Up 2.3%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. The company has a market capitalization of $20.50 billion, a price-to-earnings ratio of 36.32 and a beta of 2.12. The business’s 50-day simple moving average is $16.74 and its 200-day simple moving average is $21.93.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted $0.06 earnings per share. SoFi Technologies’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. On average, research analysts expect that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Anthony Noto purchased 28,900 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $17.32 per share, with a total value of $500,548.00. Following the purchase, the chief executive officer directly owned 11,704,352 shares in the company, valued at $202,719,376.64. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 10,037 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $15.53, for a total value of $155,874.61. Following the completion of the transaction, the executive vice president directly owned 323,247 shares in the company, valued at approximately $5,020,025.91. This trade represents a 3.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 124,479 shares of company stock valued at $2,163,556 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SOFI. Lake Street Private Wealth LLC increased its stake in shares of SoFi Technologies by 4.9% in the 4th quarter. Lake Street Private Wealth LLC now owns 8,368 shares of the company’s stock valued at $219,000 after acquiring an additional 390 shares during the last quarter. Capital Advisors Wealth Management LLC increased its stake in shares of SoFi Technologies by 0.4% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company’s stock valued at $2,866,000 after acquiring an additional 401 shares during the last quarter. First Horizon Corp increased its stake in shares of SoFi Technologies by 14.9% in the 4th quarter. First Horizon Corp now owns 3,116 shares of the company’s stock valued at $82,000 after acquiring an additional 405 shares during the last quarter. Cigna Investments Inc. New increased its stake in shares of SoFi Technologies by 3.8% in the 4th quarter. Cigna Investments Inc. New now owns 11,440 shares of the company’s stock valued at $299,000 after acquiring an additional 416 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of SoFi Technologies by 50.5% in the 3rd quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after acquiring an additional 427 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.