SoFi Technologies (NASDAQ:SOFI) Trading Down 3.6% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) was down 3.6% during trading on Thursday . The stock traded as low as $12.03 and last traded at $12.61. Approximately 18,783,984 shares traded hands during trading, a decline of 58% from the average daily volume of 44,543,294 shares. The stock had previously closed at $13.07.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Finally, UBS Group raised their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Down 2.9 %

The firm has a 50 day simple moving average of $14.42 and a two-hundred day simple moving average of $13.17. The stock has a market capitalization of $12.99 billion, a P/E ratio of 32.03, a PEG ratio of 2.24 and a beta of 1.79. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $0.04 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the sale, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Elequin Capital LP raised its position in SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in SoFi Technologies by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares during the period. Captrust Financial Advisors raised its stake in SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after buying an additional 809 shares in the last quarter. Procyon Advisors LLC lifted its stake in shares of SoFi Technologies by 8.0% in 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 during the period. Finally, Game Plan Financial Advisors LLC lifted its position in SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after acquiring an additional 1,000 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.