SoFi Technologies (NASDAQ:SOFI) Trading Up 1.7% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 1.7% during mid-day trading on Monday . The company traded as high as $18.30 and last traded at $18.19. Approximately 76,297,871 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 67,750,133 shares. The stock had previously closed at $17.88.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. TD Cowen lowered their price target on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $16.00 price objective on SoFi Technologies in a report on Thursday, April 30th. Truist Financial cut their price objective on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. Finally, Citigroup reduced their target price on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.56.

SoFi Technologies Price Performance

The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $16.97 and its 200-day moving average is $20.03. The company has a market cap of $23.33 billion, a PE ratio of 41.34 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. SoFi Technologies’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Activity

In other news, CEO Anthony Noto purchased 15,545 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $248,720.00. Following the completion of the transaction, the chief executive officer directly 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 SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,954 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the sale, the executive vice president directly owned 378,682 shares in the company, valued at approximately $6,570,132.70. The trade was a 2.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 134,044 shares of company stock worth $2,370,056 in the last quarter. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in SoFi Technologies in the fourth quarter worth about $321,515,000. State Street Corp boosted its position in shares of SoFi Technologies by 30.7% in the 3rd quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after purchasing an additional 5,708,053 shares in the last quarter. Marshall Wace LLP grew its stake in shares of SoFi Technologies by 372.9% in the 4th quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock worth $174,116,000 after buying an additional 5,244,291 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock worth $2,906,061,000 after buying an additional 3,900,895 shares during the last quarter. Finally, Morgan Stanley increased its position in SoFi Technologies by 33.6% during the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock valued at $348,806,000 after buying an additional 3,350,258 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.