SoFi Technologies (NASDAQ:SOFI) Trading Down 2.4% – Should You Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 2.4% during trading on Wednesday . The stock traded as low as $18.23 and last traded at $18.25. Approximately 56,471,166 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 70,569,414 shares. The stock had previously closed at $18.70.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SOFI. Stephens cut their target price on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Needham & Company LLC decreased their price objective on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Argus started coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They set a “hold” rating for the company. UBS Group reduced their price objective on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Finally, Weiss Ratings cut shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.38.

SoFi Technologies Stock Down 2.4%

The firm has a fifty day simple moving average of $17.39 and a 200 day simple moving average of $18.25. 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 cap of $23.41 billion, a PE ratio of 38.02 and a beta of 2.17.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.39%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities research analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the transaction, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This trade represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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, EVP Kelli Keough sold 10,954 shares of SoFi Technologies stock in a transaction on Monday, July 20th. The shares were sold at an average price of $17.19, for a total value of $188,299.26. Following the completion of the transaction, the executive vice president owned 367,728 shares in the company, valued at $6,321,244.32. The trade was a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,256 shares of company stock worth $2,370,822 in the last quarter. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in shares of SoFi Technologies in the 4th quarter valued at about $25,000. Blue Trust Inc. boosted its position in 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 purchasing an additional 878 shares during the period. Vermillion Wealth Management Inc. increased its holdings in SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after purchasing an additional 739 shares in the last quarter. Reflection Asset Management acquired a new position in shares of SoFi Technologies during the fourth quarter worth about $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter worth about $29,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.