SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.5% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 1.5% during mid-day trading on Friday . The company traded as high as $18.54 and last traded at $18.38. 51,356,566 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 70,290,125 shares. The stock had previously closed at $18.10.

Wall Street Analyst Weigh In

Several analysts recently commented on SOFI shares. Weiss Ratings lowered SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $18.00 price objective on shares of SoFi Technologies in a report on Thursday, April 30th. Keefe, Bruyette & Woods reduced their target price on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating on the stock in a research note on Thursday, April 9th. Stephens lowered their target price on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Wells Fargo & Company dropped their target price on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.38.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of 38.29 and a beta of 2.17. The stock has a 50 day moving average price of $17.45 and a two-hundred day moving average price of $18.13.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.39%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.08 earnings per share. The company’s 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. On average, analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Anthony Noto acquired 15,545 shares of the company’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $191,145,904. This trade represents a 0.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 102,123 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the sale, 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 ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 135,256 shares of company stock worth $2,370,822 over the last three months. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Hedge funds have recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $25,000. Blue Trust Inc. grew its holdings in shares of SoFi Technologies by 655.2% in the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock valued at $26,000 after buying an additional 878 shares during the period. Vermillion Wealth Management Inc. grew its holdings 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 valued at $26,000 after buying an additional 739 shares during the period. Reflection Asset Management bought a new stake in shares of SoFi Technologies in the 4th quarter valued at $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter valued at $29,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.