SoFi Technologies (NASDAQ:SOFI) Shares Down 3.6% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded down 3.6% during trading on Tuesday . The stock traded as low as $15.22 and last traded at $15.50. 20,388,131 shares were traded during mid-day trading, a decline of 56% from the average session volume of 46,103,535 shares. The stock had previously closed at $16.08.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SOFI. Jefferies Financial Group raised their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target 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. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Up 2.8 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market cap of $17.84 billion, a PE ratio of 164.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The firm has a fifty day moving average of $15.81 and a 200 day moving average of $11.25.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data 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 3.71% and a net margin of 8.38%. During the same period in the prior year, the company posted $0.04 EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the sale, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Game Plan Financial Advisors LLC increased its stake in shares of SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock worth $128,000 after acquiring an additional 1,000 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $169,000. Allworth Financial LP boosted its stake in shares of SoFi Technologies by 494.3% in the fourth quarter. Allworth Financial LP now owns 90,256 shares of the company’s stock valued at $1,390,000 after buying an additional 75,069 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in SoFi Technologies during the fourth quarter worth $4,561,000. Finally, Rhumbline Advisers lifted its stake in shares of SoFi Technologies by 3.8% in the fourth quarter. Rhumbline Advisers now owns 1,033,602 shares of the company’s stock valued at $15,917,000 after purchasing an additional 37,892 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

About SoFi Technologies

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.