SoFi Technologies (NASDAQ:SOFI) Trading Down 2.9% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares dropped 2.9% during trading on Wednesday . The company traded as low as $16.24 and last traded at $16.35. Approximately 13,021,383 shares changed hands during trading, a decline of 70% from the average daily volume of 43,171,465 shares. The stock had previously closed at $16.83.

Wall Street Analyst Weigh In

SOFI has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. UBS Group boosted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Trading Down 5.7 %

The stock has a market cap of $15.92 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 2.33 and a beta of 1.77. 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 business's fifty day simple moving average is $15.70 and its 200 day simple moving average is $12.19.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating 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 quarter in the previous year, the company earned $0.04 EPS. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,008,465 shares of company stock worth $416,952,167 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter worth $27,000. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the fourth quarter worth about $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the third quarter worth about $28,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $32,000. Institutional investors own 38.43% of the company's stock.

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.