SoFi Technologies (NASDAQ:SOFI) Trading Down 0.5% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 0.5% during trading on Friday . The stock traded as low as $16.27 and last traded at $16.36. Approximately 10,623,245 shares traded hands during trading, a decline of 76% from the average daily volume of 45,171,051 shares. The stock had previously closed at $16.44.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SOFI. Citigroup raised their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. UBS Group raised their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

The firm has a market cap of $17.22 billion, a price-to-earnings ratio of 42.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.78. 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 company’s fifty day moving average is $15.84 and its two-hundred day moving average is $11.28.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 in the prior year, the business posted $0.04 EPS. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.28 EPS for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This represents a 66.72 % 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. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of the business. Hanseatic Management Services Inc. bought a new position in SoFi Technologies in the 4th quarter worth $1,116,000. Charles Schwab Investment Management Inc. grew its holdings in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Zacks Investment Management bought a new stake in shares of SoFi Technologies during the third quarter valued at approximately $3,766,000. Citizens Financial Group Inc. RI boosted its position in SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after buying an additional 70,603 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the last quarter. 38.43% of the stock is currently owned by 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.