SoFi Technologies (NASDAQ:SOFI) Trading Down 0.3% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 0.3% on Monday . The stock traded as low as $10.63 and last traded at $11.01. 14,425,035 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 46,778,773 shares. The stock had previously closed at $11.04.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.32.

SoFi Technologies Trading Up 0.1 %

The firm has a market capitalization of $11.78 billion, a P/E ratio of 110.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The firm has a 50 day moving average price of $8.67 and a two-hundred day moving average price of $7.56.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company posted ($0.03) EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock worth $904,677 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SOFI. Dimensional Fund Advisors LP raised its holdings in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Marshall Wace LLP increased its position in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after buying an additional 3,593,464 shares during the last quarter. Mizuho Markets Americas LLC increased its position in SoFi Technologies by 403.4% during the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock worth $20,132,000 after buying an additional 2,440,745 shares during the last quarter. Vanguard Group Inc. increased its position in SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after buying an additional 1,366,271 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in SoFi Technologies during the first quarter worth $6,264,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.