SoFi Technologies (NASDAQ:SOFI) Stock Price Down 4.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 4.1% during trading on Thursday . The company traded as low as $14.78 and last traded at $14.86. Approximately 18,661,398 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 44,089,625 shares. The stock had previously closed at $15.49.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SOFI shares. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Mizuho lifted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Price Performance

The company’s 50 day simple moving average is $15.82 and its 200 day simple moving average is $11.53. The stock has a market capitalization of $16.20 billion, a PE ratio of 40.37, a PEG ratio of 2.12 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (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 in the previous year, the firm posted $0.04 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.28 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SOFI. Captrust Financial Advisors grew its holdings in shares of SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after purchasing an additional 809 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares in the last quarter. CIBC Asset Management Inc boosted its stake in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after purchasing an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC boosted its stake in SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in SoFi Technologies by 8.0% during the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.