SoFi Technologies (NASDAQ:SOFI) Shares Down 2% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were down 2% on Friday . The stock traded as low as $12.02 and last traded at $12.21. Approximately 15,925,226 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 45,386,371 shares. The stock had previously closed at $12.45.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Citigroup raised their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, 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 report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and a consensus price target of $12.50.

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SoFi Technologies Stock Down 7.8 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market cap of $12.72 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a fifty day moving average of $15.24 and a 200 day moving average of $12.74.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the company posted $0.04 earnings per share. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,004 shares of company stock worth $2,292,100 over the last quarter. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Two Sigma Advisers LP purchased a new position in SoFi Technologies in the 4th quarter worth $299,980,000. State Street Corp grew its stake in SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company's stock valued at $141,974,000 after purchasing an additional 310,532 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the period. Finally, Norges Bank purchased a new position in shares of SoFi Technologies in the fourth quarter worth about $103,678,000. 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.