SoFi Technologies (NASDAQ:SOFI) Trading Down 1.3% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price dropped 1.3% on Monday . The stock traded as low as $14.89 and last traded at $15.57. Approximately 18,810,041 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 45,679,980 shares. The stock had previously closed at $15.78.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOFI. UBS Group boosted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Citigroup raised their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Mizuho boosted their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a market cap of $16.81 billion, a P/E ratio of 41.86, a PEG ratio of 2.12 and a beta of 1.78. The business’s fifty day moving average price is $15.83 and its 200 day moving average price is $11.50.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the firm posted $0.04 earnings per share. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. West Michigan Advisors LLC bought a new stake in shares of SoFi Technologies during the fourth quarter worth about $284,000. QRG Capital Management Inc. lifted its position in shares of SoFi Technologies by 9.7% during the fourth quarter. QRG Capital Management Inc. now owns 280,791 shares of the company’s stock valued at $4,324,000 after purchasing an additional 24,713 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in SoFi Technologies in the 4th quarter worth about $513,000. Oppenheimer & Co. Inc. increased its stake in SoFi Technologies by 47.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company’s stock valued at $5,628,000 after buying an additional 118,288 shares during the last quarter. Finally, Nwam LLC lifted its position in shares of SoFi Technologies by 11.3% during the 4th quarter. Nwam LLC now owns 44,635 shares of the company’s stock worth $687,000 after buying an additional 4,531 shares in the last quarter. 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.