SoFi Technologies (NASDAQ:SOFI) Trading Down 1.4% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) fell 1.4% during trading on Wednesday . The stock traded as low as $15.86 and last traded at $15.94. 9,930,114 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 45,924,242 shares. The stock had previously closed at $16.17.

Analyst Ratings Changes

Several brokerages recently commented on SOFI. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup boosted their price target 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. Needham & Company LLC boosted their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley upped their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Price Performance

The company has a market capitalization of $17.71 billion, a PE ratio of 44.24, 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 current ratio of 0.49 and a quick ratio of 0.18. The company’s 50 day simple moving average is $15.84 and its 200 day simple moving average is $11.28.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 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 period last year, the company earned $0.04 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.28 earnings per share for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently modified their holdings of the stock. Hanseatic Management Services Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $1,116,000. Charles Schwab Investment Management Inc. lifted 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 period. Zacks Investment Management acquired a new stake in shares of SoFi Technologies during the third quarter worth $3,766,000. Citizens Financial Group Inc. RI lifted its holdings in shares of SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after purchasing an additional 70,603 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted 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 period. 38.43% of the stock is owned by institutional investors and hedge funds.

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.