SoFi Technologies (NASDAQ:SOFI) Stock Price Down 4.1% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) was down 4.1% on Monday . The stock traded as low as $10.98 and last traded at $11.37. Approximately 16,234,201 shares were traded during trading, a decline of 64% from the average daily volume of 44,852,820 shares. The stock had previously closed at $11.85.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SOFI shares. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Citigroup raised their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley increased their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The company’s fifty day simple moving average is $14.42 and its two-hundred day simple moving average is $13.25. 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 stock has a market capitalization of $12.74 billion, a P/E ratio of 31.45, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $0.04 earnings per share. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction that occurred on 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 $8,280,691.52. This represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock worth $1,308,075 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Large investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $27,000. Hollencrest Capital Management bought a new stake in SoFi Technologies in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies in the 4th quarter valued at about $32,000. FNY Investment Advisers LLC lifted its position in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies in the 4th quarter worth approximately $38,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.