SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.5% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares dropped 1.5% during mid-day trading on Monday . The stock traded as low as $13.36 and last traded at $13.71. Approximately 19,003,479 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 47,442,145 shares. The stock had previously closed at $13.92.

Analyst Ratings Changes

SOFI has been the topic of several recent research reports. UBS Group lifted their price target on SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Barclays lifted their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $14.38.

SoFi Technologies Trading Down 5.0%

The company has a market cap of $14.42 billion, a P/E ratio of 35.36, a PEG ratio of 2.24 and a beta of 1.84. The business has a fifty day moving average price of $12.15 and a 200-day moving average price of $13.99. 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 issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,172 shares of company stock worth $1,271,115. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock worth $1,156,805,000 after buying an additional 1,130,250 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of SoFi Technologies during the fourth quarter worth $299,980,000. Geode Capital Management LLC increased its holdings in shares of SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after buying an additional 315,899 shares in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies during the fourth quarter worth $103,678,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company’s stock worth $75,278,000 after buying an additional 159,109 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.