SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.3% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 3.3% during trading on Thursday . The stock traded as low as $12.73 and last traded at $12.99. 15,034,266 shares changed hands during trading, a decline of 67% from the average session volume of 45,334,578 shares. The stock had previously closed at $13.43.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Needham & Company LLC increased their price target on 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 reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Finally, UBS Group boosted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Up 1.1 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $15.31 and its 200 day moving average price is $12.63. The firm has a market capitalization of $13.81 billion, a PE ratio of 34.03, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the company posted $0.04 EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now directly owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,004 shares of company stock worth $2,292,100. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. SBI Securities Co. Ltd. acquired a new position in SoFi Technologies during the fourth quarter worth $3,703,000. Hanseatic Management Services Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at about $1,116,000. Kercheville Advisors LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $1,594,000. Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $3,766,000. 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.