SoFi Technologies (NASDAQ:SOFI) Trading Down 0.1% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) fell 0.1% on Monday . The company traded as low as $11.96 and last traded at $12.08. 10,616,658 shares were traded during trading, a decline of 77% from the average session volume of 46,065,594 shares. The stock had previously closed at $12.09.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SOFI. UBS Group increased their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Needham & Company LLC raised their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group boosted their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Down 3.0 %

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.10 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a 50-day simple moving average of $14.77 and a 200 day simple moving average of $12.94.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 earned $0.04 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction 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 transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the sale, the executive vice president now 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 92,004 shares of company stock worth $1,459,060 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP acquired a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $299,980,000. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new position in SoFi Technologies in the 4th quarter valued at $103,678,000. Voloridge Investment Management LLC purchased a new position in SoFi Technologies in the 4th quarter valued at $75,139,000. Finally, Amundi boosted its stake in SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after purchasing an additional 2,700,543 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other 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.