SoFi Technologies (NASDAQ:SOFI) Trading Down 2.2% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 2.2% on Wednesday . The company traded as low as $14.35 and last traded at $14.58. Approximately 10,510,121 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 39,752,105 shares. The stock had previously closed at $14.91.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $11.13.

SoFi Technologies Stock Performance

The company has a 50-day moving average price of $14.76 and a two-hundred day moving average price of $10.21. 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 capitalization of $15.83 billion, a P/E ratio of 145.91, a PEG ratio of 2.70 and a beta of 1.78.

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

Insider Transactions at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This represents a 66.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the transaction, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies during the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of SoFi Technologies during the third quarter worth about $47,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.