SoFi Technologies (NASDAQ:SOFI) Trading Down 3.1% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price dropped 3.1% during trading on Friday . The stock traded as low as $13.81 and last traded at $14.10. Approximately 15,228,063 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 38,632,844 shares. The stock had previously closed at $14.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. Citigroup cut SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $11.13.

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 capitalization of $15.35 billion, a price-to-earnings ratio of 141.51, a PEG ratio of 2.70 and a beta of 1.78. The stock's 50 day simple moving average is $14.96 and its 200-day simple moving average is $10.33.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. 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 net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million during the quarter, compared to analysts' expectations of $631.59 million. During the same period in the prior year, the company posted ($0.03) earnings per share. SoFi Technologies's revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 64,991 shares of the company's 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 in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the firm's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its stake in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after buying an additional 809 shares during the period. Summit Trail Advisors LLC lifted its position in shares of SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock worth $2,204,000 after acquiring an additional 855 shares during the period. CIBC Asset Management Inc grew its holdings in shares of SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock worth $223,000 after purchasing an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC increased its position in shares of SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company's stock valued at $86,000 after purchasing an additional 1,000 shares during the period. Finally, Stratos Wealth Advisors LLC raised its stake in shares of SoFi Technologies by 3.3% in the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company's stock valued at $256,000 after purchasing an additional 1,054 shares in the last quarter. 38.43% of the stock is owned by 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.