SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.8% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 2.8% on Tuesday . The stock traded as low as $16.29 and last traded at $16.41. Approximately 20,539,252 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 47,488,137 shares. The stock had previously closed at $16.88.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Bank of America restated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three 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 stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average target price of $11.04.

SoFi Technologies Stock Down 1.4 %

The company has a market cap of $16.31 billion, a P/E ratio of 150.32, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a fifty day moving average price of $13.30 and a two-hundred day moving average price of $9.33.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. 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 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold 26,012,748 shares of company stock worth $416,356,356 in the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies during the third quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies in the third quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $47,000. Institutional investors own 38.43% of the company’s stock.

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.