SoFi Technologies (NASDAQ:SOFI) Trading Down 0.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 0.1% during mid-day trading on Monday . The stock traded as low as $11.96 and last traded at $12.08. 10,616,658 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 46,065,594 shares. The stock had previously closed at $12.09.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Morgan Stanley raised their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

The business has a 50-day moving average price of $14.89 and a two-hundred day moving average price of $12.89. 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 company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 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 firm earned $0.04 earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the sale, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,004 shares of company stock worth $1,459,060. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SoFi Technologies in the fourth quarter worth $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the third quarter valued at about $28,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $32,000. Finally, FNY Investment Advisers LLC increased its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the period. Institutional investors 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.