SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.4% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 1.4% during mid-day trading on Wednesday . The company traded as low as $15.86 and last traded at $15.94. Approximately 9,930,114 shares traded hands during trading, a decline of 78% from the average daily volume of 45,924,242 shares. The stock had previously closed at $16.17.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Finally, Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market cap of $17.59 billion, a P/E ratio of 160.80, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The business’s fifty day moving average is $15.78 and its two-hundred day moving average is $11.22.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same period last year, the business earned $0.04 earnings per share. Equities analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the sale, the director now directly owns 482,083 shares in the company, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds have recently modified their holdings of the company. Sei Investments Co. boosted its stake in SoFi Technologies by 8.8% in the second quarter. Sei Investments Co. now owns 38,976 shares of the company’s stock valued at $258,000 after acquiring an additional 3,139 shares in the last quarter. Xponance Inc. grew its stake in SoFi Technologies by 53.0% during the 2nd quarter. Xponance Inc. now owns 52,795 shares of the company’s stock worth $349,000 after buying an additional 18,285 shares during the last quarter. AQR Capital Management LLC grew its stake in SoFi Technologies by 58.8% during the 2nd quarter. AQR Capital Management LLC now owns 115,186 shares of the company’s stock worth $756,000 after buying an additional 42,660 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in SoFi Technologies by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 263,826 shares of the company’s stock valued at $1,744,000 after buying an additional 30,206 shares in the last quarter. Finally, Algert Global LLC raised its stake in SoFi Technologies by 28.2% in the second quarter. Algert Global LLC now owns 286,786 shares of the company’s stock valued at $1,896,000 after buying an additional 63,076 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.