SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.6% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 3.6% during trading on Tuesday . The stock traded as low as $15.22 and last traded at $15.50. Approximately 20,388,131 shares were traded during trading, a decline of 56% from the average daily volume of 46,103,535 shares. The stock had previously closed at $16.08.

Analysts Set New Price Targets

A number of analysts recently weighed in on SOFI shares. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday. Citigroup upped their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Finally, UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market capitalization of $17.55 billion, a P/E ratio of 161.72, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The stock has a 50-day moving average price of $15.75 and a two-hundred day moving average price of $11.15.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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%. During the same quarter in the prior year, the company posted $0.04 EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated 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 completion of the transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 over the last three months. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies in the third quarter worth $16,014,000. Zacks Investment Management purchased a new stake in SoFi Technologies during the third quarter valued at $3,766,000. Point72 DIFC Ltd bought a new position in SoFi Technologies in the third quarter valued at about $3,219,000. Finally, Rockefeller Capital Management L.P. boosted its position in SoFi Technologies by 20.6% in the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock worth $17,365,000 after purchasing an additional 376,899 shares during the last quarter. Hedge funds and other 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.