SoFi Technologies (NASDAQ:SOFI) Stock Price Down 5.3% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 5.3% on Thursday . The company traded as low as $13.94 and last traded at $14.59. 29,295,874 shares traded hands during trading, a decline of 38% from the average session volume of 47,335,980 shares. The stock had previously closed at $15.40.

Analysts Set New Price Targets

Several research analysts recently weighed in on SOFI shares. Mizuho upped their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Needham & Company LLC upped their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.13.

SoFi Technologies Price Performance

The company has a market cap of $15.15 billion, a P/E ratio of 139.61, a PEG ratio of 2.70 and a beta of 1.77. The firm’s 50-day moving average is $14.45 and its two-hundred day moving average is $9.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The shares were 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 of the company’s stock, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOFI. World Investment Advisors LLC boosted its holdings in SoFi Technologies by 6.5% during the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after acquiring an additional 1,336 shares during the period. Virtu Financial LLC bought a new stake in shares of SoFi Technologies during the third quarter worth $1,649,000. Coldstream Capital Management Inc. purchased a new stake in shares of SoFi Technologies during the third quarter valued at $93,000. Geode Capital Management LLC grew its holdings in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Finally, M&T Bank Corp increased its stake in SoFi Technologies by 5.4% in the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock worth $359,000 after buying an additional 2,332 shares during the period. Institutional investors 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.