SoFi Technologies (NASDAQ:SOFI) Trading Down 1.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 1.1% on Wednesday . The stock traded as low as $14.42 and last traded at $14.67. 11,239,748 shares were traded during trading, a decline of 74% from the average session volume of 42,589,445 shares. The stock had previously closed at $14.83.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, The Goldman Sachs Group upped their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a 50-day moving average price of $15.73 and a 200-day moving average price of $11.77. The firm has a market capitalization of $15.94 billion, a P/E ratio of 39.74, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,008,870 shares of company stock worth $416,950,073 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently made changes to their positions in SOFI. CIBC Private Wealth Group LLC increased its position in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock worth $881,000 after acquiring an additional 685 shares during the period. California Public Employees Retirement System raised its position in shares of SoFi Technologies by 24.8% in the fourth quarter. California Public Employees Retirement System now owns 1,624,450 shares of the company’s stock valued at $25,017,000 after buying an additional 322,967 shares in the last quarter. L & S Advisors Inc bought a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $8,044,000. Tucker Asset Management LLC increased its stake in SoFi Technologies by 965.5% during the 4th quarter. Tucker Asset Management LLC now owns 14,310 shares of the company’s stock worth $220,000 after acquiring an additional 12,967 shares during the period. Finally, Maridea Wealth Management LLC bought a new stake in shares of SoFi Technologies during the 4th quarter valued at $802,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.