SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.1% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 3.1% during trading on Friday . The company traded as low as $13.81 and last traded at $14.10. Approximately 15,228,063 shares were traded during trading, a decline of 61% from the average daily volume of 38,632,844 shares. The stock had previously closed at $14.55.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho upped 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. JPMorgan Chase & Co. raised their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Keefe, Bruyette & Woods reiterated 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. Finally, Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $11.13.

SoFi Technologies Stock Performance

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 141.51, a PEG ratio of 2.70 and a beta of 1.78. The stock’s 50 day moving average is $14.96 and its 200 day moving average is $10.35.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same quarter last year, the business posted ($0.03) earnings per share. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. On average, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now owns 25,937 shares in the company, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction dated 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. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after buying an additional 310,532 shares during the period. Geode Capital Management LLC boosted its position in SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the period. Dimensional Fund Advisors LP increased its holdings in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP raised its position in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $48,306,000 after buying an additional 87,097 shares during the period. Institutional investors and hedge funds 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.