SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2% – Time to Sell?

by · The Cerbat Gem

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) fell 2% during mid-day trading on Friday . The company traded as low as $26.53 and last traded at $27.82. 86,624,878 shares were traded during mid-day trading, an increase of 35% from the average session volume of 64,319,160 shares. The stock had previously closed at $28.39.

Analyst Upgrades and Downgrades

SOFI has been the subject of several recent analyst reports. Citigroup boosted their target price on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Truist Financial upped their price objective on shares of SoFi Technologies from $29.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Rothschild & Co Redburn started coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They set a “neutral” rating and a $20.50 target price for the company. Needham & Company LLC increased their price target on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.06.

Check Out Our Latest Analysis on SoFi Technologies

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.14 and a current ratio of 0.80. The company has a market cap of $33.31 billion, a PE ratio of 51.52, a PEG ratio of 3.14 and a beta of 1.93. The business’s 50-day moving average is $28.07 and its 200 day moving average is $21.67.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. During the same period in the previous year, the firm earned $0.05 EPS. The business’s quarterly revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,036 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $28.33, for a total transaction of $284,319.88. Following the sale, the executive vice president directly owned 275,374 shares in the company, valued at $7,801,345.42. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This represents a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 129,383 shares of company stock worth $3,513,171 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the stock. Xcel Wealth Management LLC increased its stake in SoFi Technologies by 0.6% during the 3rd quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock valued at $1,874,000 after purchasing an additional 392 shares in the last quarter. Key Client Fiduciary Advisors LLC increased its position in shares of SoFi Technologies by 3.1% during the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock valued at $373,000 after acquiring an additional 419 shares in the last quarter. Assetmark Inc. increased its position in shares of SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after acquiring an additional 427 shares in the last quarter. Cigna Investments Inc. New raised its holdings in SoFi Technologies by 4.2% in the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock worth $291,000 after acquiring an additional 446 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its position in SoFi Technologies by 52.9% in the 3rd quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock valued at $34,000 after acquiring an additional 450 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

About SoFi Technologies

(Get Free Report)

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.

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