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SOFI Stock Plummets – What's Behind the Drop?

Shares of SoFi Technologies fell to $15.78 during today's afternoon trading session. Despite the -4.0% change, the Large-Cap Diversified Financial company still trades 18.7% above its average analyst target price of $13.29. So there may be further downside for the Diversified Financial stock. SoFi Technologies has target prices ranging from $5.0 to $20.0 per share, and its average rating is hold.

SoFi Technologies has an elevated short interest of 12.5%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 2.85. The company's insiders own 3.34% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. SoFi Technologies's rate of institutional ownership is 43.4%, which indicates a decent level of confidence in the stock. Based on these factors, Market Inference considers SoFi Technologies to be the target of mixed market sentiment.

Institutions Invested in SoFi Technologies

Date Reported Holder Percentage Shares Value
2024-09-30 Vanguard Group Inc 8% 89,438,166 $1,411,334,235
2024-09-30 Blackrock Inc. 4% 45,438,167 $717,014,263
2024-09-30 Silver Lake Group, LLC 3% 31,154,165 $491,612,715
2024-09-30 Dimensional Fund Advisors LP 2% 24,716,612 $390,028,130
2024-09-30 State Street Corporation 2% 18,062,855 $285,031,847
2024-09-30 Geode Capital Management, LLC 2% 17,619,084 $278,029,140
2024-06-30 Norges Bank Investment Management 1% 13,952,298 $220,167,258
2024-09-30 ARK Investment Management, LLC 1% 12,612,563 $199,026,240
2024-09-30 Morgan Stanley 1% 11,932,601 $188,296,440
2024-09-30 Renaissance Technologies, LLC 1% 11,390,900 $179,748,398
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

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