SoFi Technologies (NASDAQ:SOFI) Stock Price Down 11.9% – Time to Sell?

by · The Markets Daily

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report)’s stock price dropped 11.9% during trading on Thursday . The company traded as low as $28.15 and last traded at $28.39. Approximately 116,092,788 shares were traded during mid-day trading, an increase of 81% from the average daily volume of 64,185,344 shares. The stock had previously closed at $32.21.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SOFI. Keefe, Bruyette & Woods boosted their target price on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Truist Financial upped their price objective on shares of SoFi Technologies from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. UBS Group raised their target price on SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $25.06.

Check Out Our Latest Report on SoFi Technologies

SoFi Technologies Price Performance

The firm has a market cap of $33.55 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.77 and a beta of 1.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.14. The firm has a 50-day simple moving average of $28.12 and a 200 day simple moving average of $21.77.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The company had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. During the same period last year, the business earned $0.05 EPS. SoFi Technologies’s quarterly revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the sale, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 129,383 shares of company stock valued at $3,513,171 in the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of SoFi Technologies by 12.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company’s stock valued at $88,864,000 after acquiring an additional 540,610 shares during the last quarter. Vanguard Group Inc. increased its position in SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. Sullivan Wood Capital Management LLC purchased a new stake in SoFi Technologies during the second quarter valued at $2,799,000. Blair William & Co. IL raised its stake in SoFi Technologies by 443.9% during the second quarter. Blair William & Co. IL now owns 335,698 shares of the company’s stock valued at $6,113,000 after purchasing an additional 273,972 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. bought a new position in shares of SoFi Technologies in the 2nd quarter valued at about $209,000. 38.43% of the stock is owned by 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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