SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.9% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price fell 3.9% during trading on Tuesday . The company traded as low as $11.82 and last traded at $11.85. 9,694,095 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 44,508,599 shares. The stock had previously closed at $12.32.

Analysts Set New Price Targets

SOFI has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. The Goldman Sachs Group upped their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

The business’s 50-day simple moving average is $14.83 and its 200 day simple moving average is $12.92. The company has a market capitalization of $13.11 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the business earned $0.04 EPS. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction 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 sale, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,004 shares of company stock valued at $1,459,060. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently made changes to their positions in the company. 111 Capital bought a new stake in SoFi Technologies during the fourth quarter worth approximately $438,000. Keystone Financial Services LLC bought a new position in SoFi Technologies in the 4th quarter worth $275,000. Centaurus Financial Inc. acquired a new position in SoFi Technologies during the 4th quarter worth $172,000. Total Wealth Planning & Management Inc. acquired a new position in SoFi Technologies during the 4th quarter worth $821,000. Finally, Jefferies Financial Group Inc. bought a new stake in SoFi Technologies during the fourth quarter valued at about $1,164,000. 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.