SoFi Technologies (NASDAQ:SOFI) Trading Up 1.9% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 1.9% on Monday . The company traded as high as $17.75 and last traded at $17.65. 32,526,706 shares traded hands during trading, a decline of 51% from the average session volume of 66,027,734 shares. The stock had previously closed at $17.32.

Analysts Set New Price Targets

SOFI has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Truist Financial boosted their target price on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. Mizuho reduced their target price on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Finally, Loop Capital began coverage on SoFi Technologies in a report on Tuesday, September 8th. They issued a “hold” rating and a $22.00 target price for the company. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.52.

SoFi Technologies Stock Up 1.9%

The company has a market capitalization of $22.80 billion, a PE ratio of 36.77, a P/E/G ratio of 1.42 and a beta of 2.20. The stock’s fifty day moving average is $17.83 and its two-hundred day moving average is $17.41. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares in the company, valued at approximately $6,415,956. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the transaction, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This trade represents a 10.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 136,505 shares of company stock valued at $2,418,096. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in SoFi Technologies in the 2nd quarter worth about $1,298,925,000. California State Teachers Retirement System lifted its holdings in SoFi Technologies by 1,603.2% during the second quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock valued at $559,435,000 after purchasing an additional 29,369,164 shares during the last quarter. Geode Capital Management LLC boosted its position in SoFi Technologies by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company’s stock worth $618,395,000 after purchasing an additional 1,951,248 shares during the period. Norges Bank bought a new position in SoFi Technologies during the fourth quarter worth about $321,515,000. Finally, Bank of America Corp DE purchased a new position in shares of SoFi Technologies in the second quarter worth about $163,808,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.