SoFi Technologies (NASDAQ:SOFI) Trading Down 1.8% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 1.8% during mid-day trading on Tuesday . The stock traded as low as $14.71 and last traded at $15.02. 14,643,018 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 40,410,723 shares. The stock had previously closed at $15.29.

Analyst Ratings Changes

Several research analysts have commented on SOFI shares. Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC boosted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.13.

SoFi Technologies Price Performance

The stock has a market cap of $15.79 billion, a PE ratio of 145.51, a P/E/G ratio of 2.70 and a beta of 1.78. 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 business has a fifty day simple moving average of $14.83 and a two-hundred day simple moving average of $10.24.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,009,264 shares of company stock valued at $416,889,795. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB raised its holdings in shares of SoFi Technologies by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 898,467 shares of the company’s stock valued at $14,083,000 after purchasing an additional 10,506 shares during the last quarter. Waller Financial Planning Group Inc. raised its stake in SoFi Technologies by 3,027.5% during the 4th quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock valued at $157,000 after buying an additional 9,900 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of SoFi Technologies in the fourth quarter worth $498,000. GAMMA Investing LLC increased its position in SoFi Technologies by 40.3% during the fourth quarter. GAMMA Investing LLC now owns 5,925 shares of the company’s stock valued at $91,000 after acquiring an additional 1,703 shares during the last quarter. Finally, World Investment Advisors LLC lifted its holdings in SoFi Technologies by 6.5% in the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after acquiring an additional 1,336 shares during the period. 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.