SoFi Technologies (NASDAQ:SOFI) Shares Down 1.3% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares dropped 1.3% during mid-day trading on Monday . The company traded as low as $14.89 and last traded at $15.57. Approximately 18,810,041 shares changed hands during trading, a decline of 59% from the average daily volume of 45,679,980 shares. The stock had previously closed at $15.78.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SOFI shares. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Jefferies Financial Group upped their target price 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. UBS Group raised 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, Barclays upped their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Down 2.4 %

The company’s 50-day moving average is $15.84 and its 200-day moving average is $11.39. 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 firm has a market cap of $16.71 billion, a price-to-earnings ratio of 41.62, a P/E/G ratio of 2.12 and a beta of 1.78.

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, topping 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 quarter last year, the business earned $0.04 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.28 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred 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 sale, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $28,000. FNY Investment Advisers LLC boosted its stake in 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 acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in SoFi Technologies in the third quarter valued at approximately $47,000. 38.43% of the stock is 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.