SoFi Technologies (NASDAQ:SOFI) Trading Down 5% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were down 5% during trading on Tuesday . The stock traded as low as $13.42 and last traded at $13.64. Approximately 19,803,291 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 43,927,438 shares. The stock had previously closed at $14.36.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Citigroup raised their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Stock Performance

The business's fifty day moving average price is $15.54 and its two-hundred day moving average price is $12.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market capitalization of $15.70 billion, a P/E ratio of 39.11, a P/E/G ratio of 2.24 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued 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 prior year, the business posted $0.04 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now directly owns 169,626 shares of the company's stock, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the sale, the director now directly owns 482,083 shares of the company's stock, valued at approximately $7,742,252.98. This trade represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,008,465 shares of company stock worth $416,952,167. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. Two Sigma Advisers LP purchased a new stake in SoFi Technologies in the 4th quarter valued at about $299,980,000. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after purchasing an additional 8,898,879 shares during the period. Norges Bank purchased a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $103,678,000. Voloridge Investment Management LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $75,139,000. Finally, Amundi lifted its position in shares of SoFi Technologies by 58,176.3% in the 4th quarter. Amundi now owns 2,705,185 shares of the company's stock worth $39,360,000 after purchasing an additional 2,700,543 shares during the period. 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.