SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.9% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares fell 0.9% on Monday . The company traded as low as $13.60 and last traded at $14.02. 12,458,609 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 37,456,730 shares. The stock had previously closed at $14.15.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC increased their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.13.

SoFi Technologies Stock Down 1.7 %

The company has a fifty day moving average price of $14.96 and a 200 day moving average price of $10.38. The company has a market cap of $15.09 billion, a PE ratio of 139.11, a price-to-earnings-growth ratio of 2.70 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.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. 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 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This represents a 78.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock valued at $416,889,795 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cooper Financial Group increased its stake in SoFi Technologies by 9.6% during the 4th quarter. Cooper Financial Group now owns 16,406 shares of the company’s stock valued at $253,000 after purchasing an additional 1,443 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of SoFi Technologies by 23.5% during the 4th quarter. Wedmont Private Capital now owns 18,315 shares of the company’s stock valued at $259,000 after acquiring an additional 3,486 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of SoFi Technologies by 3.7% during the fourth quarter. Brookstone Capital Management now owns 63,137 shares of the company’s stock valued at $972,000 after purchasing an additional 2,268 shares during the last quarter. Nordea Investment Management AB lifted its position in SoFi Technologies by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 898,467 shares of the company’s stock valued at $14,083,000 after purchasing an additional 10,506 shares during the period. Finally, Waller Financial Planning Group Inc. grew its position in SoFi Technologies by 3,027.5% in the 4th quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock worth $157,000 after purchasing an additional 9,900 shares during the period. Hedge funds and other 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.