SoFi Technologies (NASDAQ:SOFI) Shares Down 1.7% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) fell 1.7% during mid-day trading on Thursday . The company traded as low as $11.56 and last traded at $11.72. 12,435,307 shares traded hands during trading, a decline of 73% from the average session volume of 46,470,309 shares. The stock had previously closed at $11.92.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SOFI. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The business’s 50 day simple moving average is $15.00 and its 200 day simple moving average is $12.79. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $12.48 billion, a P/E ratio of 30.82, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the business posted $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 92,004 shares of company stock worth $1,459,060. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the third quarter valued at $28,000. Hollencrest Capital Management purchased a new position in shares of SoFi Technologies in the 4th quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $32,000. Finally, FNY Investment Advisers LLC increased its holdings in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

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.