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

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.07, but opened at $12.61. SoFi Technologies shares last traded at $12.47, with a volume of 12,917,419 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price target 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. Morgan Stanley increased their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Bank of America restated an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The company has a market cap of $12.99 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.24 and a beta of 1.79. 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 firm's 50 day simple moving average is $14.42 and its 200-day simple moving average is $13.17.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Monday, January 27th. 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,905 shares of company stock worth $1,308,075. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Two Sigma Advisers LP acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at $299,980,000. Vanguard Group Inc. increased its holdings in SoFi Technologies by 9.9% during 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 acquired a new stake in SoFi Technologies in the 4th quarter valued at about $103,678,000. Voloridge Investment Management LLC purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $75,139,000. Finally, Amundi grew its position in shares of SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock worth $39,360,000 after buying an additional 2,700,543 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.