SoFi Technologies (NASDAQ:SOFI) Shares Down 3.2% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) was down 3.2% during mid-day trading on Friday . The stock traded as low as $10.07 and last traded at $10.18. Approximately 13,414,045 shares traded hands during trading, a decline of 71% from the average daily volume of 45,821,198 shares. The stock had previously closed at $10.52.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Citigroup upped their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, William Blair restated 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 assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Up 0.7 %

The stock has a 50-day simple moving average of $13.11 and a 200 day simple moving average of $13.39. 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 company has a market cap of $11.62 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the business earned $0.04 earnings per share. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. The trade was a 5.14 % 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. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors have recently bought and sold shares of SOFI. Elequin Capital LP lifted its position in shares of SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after buying an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after acquiring an additional 685 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of 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 acquiring an additional 809 shares during the last quarter. Procyon Advisors LLC increased its position in shares of SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Game Plan Financial Advisors LLC raised its stake in SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after purchasing an additional 1,000 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.