SoFi Technologies (NASDAQ:SOFI) Shares Down 3.1% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price dropped 3.1% during mid-day trading on Thursday . The stock traded as low as $17.22 and last traded at $17.32. 71,363,500 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 69,023,531 shares. The stock had previously closed at $17.87.

Trending Headlines about SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Investors are still bullish on SoFi’s long-term customer growth, with its membership base now approaching 15 million, supporting the view that the company’s expansion story is not over. SoFi Technologies: The Customer Growth Story Isn’t Over (NASDAQ: SOFI)
• Positive Sentiment: SoFi is being highlighted as a potential takeover target thanks to its 14.7 million members, national bank charter, more than $40 billion in deposits, and the scalable Galileo platform, which could keep investor interest elevated. Here’s Why SoFi Is a Prime Takeover Target for These Major Financial Players
• Positive Sentiment: Analysts and bulls say lower inflation could help rate-sensitive stocks like SoFi, since a friendlier rate backdrop can support lending activity and valuation multiples. CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks
• Neutral Sentiment: SoFi recently announced monthly distributions on its THTA ETF, a routine fund update that is unlikely to materially move the stock on its own. SoFi Announces Monthly Distributions on $THTA (10.00%)
• Neutral Sentiment: Several recent commentaries focus on SoFi’s upcoming July 29 earnings report, where investors will be watching deposit growth, non-lending revenue, credit quality, and guidance more than just an earnings beat. SoFi Could Beat In Q2 And Still Sell Off
• Negative Sentiment: SoFi has also been weighed down by weak recent stock performance and investor concern that even strong Q2 results may not be enough to reverse the broader selloff. SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: Here’s Why

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of research reports. TD Cowen decreased their price objective 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. Stephens dropped their target price on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Citigroup reduced their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 4th. UBS Group decreased their price target 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. Finally, Argus began coverage on shares of SoFi Technologies in a research report on Wednesday, April 15th. They set a “hold” rating on the stock. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.78.

SoFi Technologies Trading Down 3.1%

The firm has a market capitalization of $22.22 billion, a PE ratio of 39.36 and a beta of 2.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The company has a fifty day moving average of $17.04 and a 200-day moving average of $19.24.

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

Insider Activity

In related news, CTO Jeremy Rishel sold 102,123 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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. Also, EVP Kelli Keough sold 10,954 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 378,682 shares in the company, valued at $6,570,132.70. This represents a 2.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 three months. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in SoFi Technologies by 161.6% in the 4th quarter. SG Americas Securities LLC now owns 902,392 shares of the company’s stock worth $23,625,000 after purchasing an additional 557,390 shares during the last quarter. Vanguard Group Inc. grew its holdings in SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock valued at $2,906,061,000 after purchasing an additional 3,900,895 shares during the last quarter. North Dakota State Investment Board bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,044,000. Brighton Jones LLC raised its position in shares of SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after purchasing an additional 14,281 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of SoFi Technologies in the fourth quarter worth $926,000. Institutional investors own 38.43% of the company’s stock.

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.