SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.7% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 3.7% on Wednesday . The company traded as low as $17.76 and last traded at $17.87. Approximately 71,879,935 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 69,001,992 shares. The stock had previously closed at $18.55.

Key Headlines Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Cooler-than-expected June CPI data lowered rate-hike fears, which could help rate-sensitive names like SoFi by improving the outlook for lending and growth stocks. CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks
• Positive Sentiment: Several analysts and market commentators say SoFi could be building momentum into earnings, with bullish investors looking for a topline beat, further margin expansion, and stronger non-lending revenue trends. SoFi Stock Builds Momentum Ahead of Q2 Earnings. How to Play It Here.
• Positive Sentiment: Some investors are still bullish despite the selloff, arguing SoFi’s long-term growth story remains intact and that the stock could rebound if the next earnings report shows better-than-expected results. Should You Buy SoFi Stock Before July 29?
• Neutral Sentiment: SoFi also announced monthly distributions for its SoFi Enhanced Yield ETF (THTA), which supports its broader product lineup but is unlikely to move the stock on its own. SoFi Announces Monthly Distributions on $THTA (10.00%)
• Negative Sentiment: SoFi shares have been under pressure, with the stock down roughly 30% this year and lagging both the fintech sector and the broader market after two disappointing earnings reactions. Earnings Season Has Been Hard On SoFi Of Late, But It Still Warrants Bullish Interest
• Negative Sentiment: Recent headlines also note the stock’s sharp six-month decline, reinforcing investor concern that SoFi will need a strong earnings report to reverse sentiment. 2 Reasons We’re Fans of SoFi (SOFI)

Wall Street Analyst Weigh In

A number of brokerages have commented on SOFI. Weiss Ratings downgraded shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Stephens decreased their price target on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Barclays decreased their price objective on SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Keefe, Bruyette & Woods reduced their target price on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, April 9th. Finally, Needham & Company LLC lowered their price objective on SoFi Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.78.

SoFi Technologies Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 40.61 and a beta of 2.14. The stock’s 50 day moving average price is $17.01 and its two-hundred day moving average price is $19.31.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.06 EPS. The business’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, analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. This trade represents a 10.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Anthony Noto purchased 15,545 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $248,720.00. Following the purchase, the chief executive officer directly owned 11,946,619 shares in the company, valued at approximately $191,145,904. This represents a 0.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 134,044 shares of company stock valued at $2,370,056. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new position in shares of SoFi Technologies in the fourth quarter valued at $25,000. Blue Trust Inc. raised its stake in shares of SoFi Technologies by 655.2% during the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after buying an additional 878 shares during the last quarter. Vermillion Wealth Management Inc. boosted its position in shares of 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 buying an additional 739 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of SoFi Technologies in the 4th quarter worth about $28,000. Finally, Reflection Asset Management acquired a new stake in SoFi Technologies in the 4th quarter valued at about $28,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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.