SoFi Technologies (NASDAQ:SOFI) Shares Down 0% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 0% on Wednesday . The company traded as low as $12.84 and last traded at $13.09. Approximately 11,671,519 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 45,394,023 shares. The stock had previously closed at $13.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SOFI shares. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, UBS Group boosted their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Up 1.2 %

The business’s 50 day moving average is $15.31 and its 200 day moving average is $12.63. 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 cap of $13.81 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) 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 period in the prior year, the company posted $0.04 EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,004 shares of company stock worth $2,292,100. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SOFI. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the third quarter valued at $27,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies in the third quarter worth about $28,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.