SoFi Technologies (NASDAQ:SOFI) Trading Down 0% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 0% during trading on Wednesday . The stock traded as low as $12.84 and last traded at $13.09. 11,671,519 shares were traded during mid-day trading, a decline of 74% from the average session volume of 45,394,023 shares. The stock had previously closed at $13.09.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Bank of America reissued an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $12.50.

SoFi Technologies Price Performance

The firm has a 50 day moving average of $15.24 and a 200-day moving average of $12.74. 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 $12.60 billion, a P/E ratio of 31.05, a P/E/G ratio of 2.24 and a beta of 1.79.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the firm earned $0.04 EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now directly owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,004 shares of company stock worth $2,292,100 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies in the 4th quarter valued at about $27,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in shares of SoFi Technologies in the 4th quarter worth approximately $32,000. FNY Investment Advisers LLC increased its position in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after purchasing an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at $38,000. 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.