SoFi Technologies (NASDAQ:SOFI) Shares Down 3.3% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 3.3% during trading on Thursday . The stock traded as low as $12.73 and last traded at $12.99. Approximately 15,034,266 shares were traded during trading, a decline of 67% from the average daily volume of 45,334,578 shares. The stock had previously closed at $13.43.

Analyst Ratings Changes

Several research analysts have weighed in on SOFI shares. Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Down 6.7 %

The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. 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 business’s 50 day moving average is $15.39 and its 200-day moving average is $12.63.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company earned $0.04 EPS. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now owns 25,937 shares in the company, valued at $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,004 shares of company stock valued at $2,292,100 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP bought a new position in SoFi Technologies in the fourth quarter worth $299,980,000. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $103,678,000. Voloridge Investment Management LLC bought a new position in shares of SoFi Technologies during the 4th quarter worth about $75,139,000. Finally, Amundi boosted its position in shares of SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after acquiring an additional 2,700,543 shares in the last quarter. Institutional investors and hedge funds 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.