SoFi Technologies (NASDAQ:SOFI) Shares Down 2.4% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 2.4% during mid-day trading on Monday . The stock traded as low as $15.42 and last traded at $15.59. 10,052,024 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 47,319,801 shares. The stock had previously closed at $15.98.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SOFI. Needham & Company LLC upped their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average price target of $11.04.

SoFi Technologies Stock Down 1.3 %

The firm has a market capitalization of $17.12 billion, a P/E ratio of 157.82, a P/E/G ratio of 2.70 and a beta of 1.77. The company has a fifty day simple moving average of $14.15 and a 200 day simple moving average of $9.79. 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 quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in SoFi Technologies in the third quarter worth $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC grew its position in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the third quarter worth approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $47,000. Institutional investors 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.