SoFi Technologies (NASDAQ:SOFI) Trading Down 0.9% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares fell 0.9% during mid-day trading on Tuesday . The stock traded as low as $13.50 and last traded at $13.60. 11,064,996 shares traded hands during trading, a decline of 75% from the average session volume of 44,572,179 shares. The stock had previously closed at $13.72.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SOFI shares. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. UBS Group boosted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. 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’s stock. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Down 7.2 %

The company’s fifty day moving average is $14.60 and its 200-day moving average is $13.14. The firm has a market capitalization of $13.30 billion, a P/E ratio of 33.28, a P/E/G 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 issued its earnings results on Monday, January 27th. 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 3.82% and a net margin of 18.64%. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were 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 in the company, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of SOFI. Berkshire Capital Holdings Inc. increased its stake in shares of SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock valued at $9,560,000 after buying an additional 620,800 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $3,703,000. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter worth $1,116,000. Kercheville Advisors LLC purchased a new position in shares of SoFi Technologies in the 4th quarter worth approximately $1,594,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Institutional investors and hedge funds 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.