SoFi Technologies (NASDAQ:SOFI) Shares Down 1.2% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 1.2% during trading on Tuesday . The company traded as low as $17.89 and last traded at $18.01. 30,120,593 shares traded hands during trading, a decline of 55% from the average session volume of 66,803,656 shares. The stock had previously closed at $18.22.

Wall Street Analyst Weigh In

SOFI has been the topic of several recent analyst reports. Needham & Company LLC decreased their target price on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Truist Financial increased their price objective on shares of SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Scotiabank began coverage on shares of SoFi Technologies in a report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $25.00 target price on the stock. 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. Finally, Piper Sandler started coverage on shares of SoFi Technologies in a research note on Monday, August 17th. They set an “overweight” rating and a $22.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, ten 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 a consensus price target of $22.55.

SoFi Technologies Stock Down 1.2%

The business’s 50 day simple moving average is $17.89 and its 200 day simple moving average is $17.45. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $23.26 billion, a PE ratio of 37.52, a PEG ratio of 1.50 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.08 earnings per share. The firm’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, equities research analysts forecast that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of SoFi Technologies stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the transaction, the executive vice president directly owned 356,442 shares of the company’s stock, valued at $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction 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 represents a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 136,505 shares of company stock worth $2,418,096 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. BlackRock Inc. acquired a new position in SoFi Technologies in the second quarter valued at approximately $1,298,925,000. California State Teachers Retirement System boosted its stake in shares of SoFi Technologies by 1,603.2% during the 2nd quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock worth $559,435,000 after acquiring an additional 29,369,164 shares in the last quarter. State Street Corp grew its position in shares of SoFi Technologies by 6.7% during the 4th quarter. State Street Corp now owns 25,937,928 shares of the company’s stock valued at $679,055,000 after acquiring an additional 1,637,430 shares during the period. Geode Capital Management LLC grew its position in shares of SoFi Technologies by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock valued at $618,395,000 after acquiring an additional 1,951,248 shares during the period. Finally, Morgan Stanley increased its stake in shares of SoFi Technologies by 33.6% in the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after purchasing an additional 3,350,258 shares in the last quarter. 38.43% of the stock is 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.