SoFi Technologies (NASDAQ:SOFI) Shares Down 5.4% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 5.4% on Monday . The company traded as low as $25.79 and last traded at $25.82. 49,587,272 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 64,337,090 shares. The stock had previously closed at $27.28.

Analysts Set New Price Targets

A number of equities analysts recently commented on SOFI shares. Jefferies Financial Group restated a “buy” rating and set a $35.00 target price on shares of SoFi Technologies in a report on Tuesday, October 28th. Citigroup raised their price objective on shares of SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group upped their target price on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their target price 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $25.69.

SoFi Technologies Trading Down 5.4%

The firm has a market capitalization of $31.14 billion, a price-to-earnings ratio of 47.82 and a beta of 1.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The company has a 50-day moving average price of $28.30 and a 200-day moving average price of $23.92.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the transaction, the insider owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’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 value of $2,715,157.50. Following the transaction, the chief technology officer owned 759,553 shares in the company, 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 sold 175,277 shares of company stock worth $4,694,595 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of SoFi Technologies in the 2nd quarter worth $164,068,000. Vanguard Group Inc. raised its holdings in SoFi Technologies by 6.8% during the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after purchasing an additional 6,814,727 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of SoFi Technologies during the 2nd quarter worth approximately $115,188,000. State Street Corp lifted its stake in shares of SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after purchasing an additional 5,708,053 shares during the period. Finally, Marshall Wace LLP boosted its position in SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after purchasing an additional 3,748,817 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.