SoFi Technologies (NASDAQ:SOFI) Shares Gap Down – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) gapped down before the market opened on Thursday . The stock had previously closed at $13.07, but opened at $12.61. SoFi Technologies shares last traded at $12.47, with a volume of 12,917,419 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on SOFI shares. Needham & Company LLC increased their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. UBS Group boosted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Citigroup lifted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

The business’s fifty day moving average price is $14.42 and its 200-day moving average price is $13.17. The stock has a market cap of $12.99 billion, a PE ratio of 32.03, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the firm’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 sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 of the company’s stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,905 shares of company stock valued at $1,308,075. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of large investors have recently made changes to their positions in SOFI. Berkshire Capital Holdings Inc. increased its holdings in SoFi Technologies by 6,208,000.0% during 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 SoFi Technologies in the 4th quarter worth $3,703,000. Hanseatic Management Services Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $1,116,000. Kercheville Advisors LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $1,594,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the last quarter. 38.43% of the stock is currently owned by 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.