SoFi Technologies (NASDAQ:SOFI) Trading Down 3.6% - Here's What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 3.6% during mid-day trading on Tuesday . The company traded as low as $15.22 and last traded at $15.50. 20,388,131 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 46,103,535 shares. The stock had previously closed at $16.08.

Analyst Ratings Changes

SOFI has been the subject of several recent research reports. Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a report on Thursday, December 19th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Trading Up 2.8 %

The business's 50-day moving average is $15.81 and its two-hundred day moving average is $11.25. The stock has a market capitalization of $17.84 billion, a PE ratio of 164.42, a PEG ratio of 1.19 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

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, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same quarter last year, the firm posted $0.04 EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % 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, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares of the company's stock, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 26,008,870 shares of company stock valued at $416,950,073. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of SOFI. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter valued at approximately $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies in the 3rd quarter worth about $28,000. FNY Investment Advisers LLC raised its holdings in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies during the third quarter worth approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies in the 3rd quarter worth approximately $47,000. 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.

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