SoFi Technologies (NASDAQ:SOFI) Trading Down 0.1% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded down 0.1% on Monday . The stock traded as low as $11.96 and last traded at $12.08. 10,616,658 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 46,065,594 shares. The stock had previously closed at $12.09.

Analyst Ratings Changes

Several research analysts have commented on SOFI shares. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Needham & Company LLC raised their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Bank of America reiterated an “underperform” rating and issued 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 given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

The stock has a 50 day moving average of $14.89 and a 200-day moving average of $12.89. The stock has a market capitalization of $13.48 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $0.04 EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,004 shares of company stock worth $1,459,060 in the last ninety days. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $28,000. Hollencrest Capital Management acquired a new position in SoFi Technologies during the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $32,000. Finally, FNY Investment Advisers LLC boosted 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 valued at $33,000 after buying an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.