SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.4% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) fell 1.4% on Wednesday . The company traded as low as $15.86 and last traded at $15.94. 9,930,114 shares were traded during mid-day trading, a decline of 78% from the average session volume of 45,924,242 shares. The stock had previously closed at $16.17.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SOFI. UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Bank of America restated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, The Goldman Sachs Group raised 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. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Down 0.7 %

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 market cap of $17.71 billion, a PE ratio of 44.24, a PEG ratio of 2.15 and a beta of 1.78. The firm has a fifty day simple moving average of $15.84 and a 200 day simple moving average of $11.28.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 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 previous year, the business posted $0.04 earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.28 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 in the last 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

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

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.