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

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $17.92, but opened at $15.93. SoFi Technologies shares last traded at $16.28, with a volume of 42,026,679 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SOFI shares. Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $11.71.

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SoFi Technologies Stock Down 10.3 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $11.15. The company has a market capitalization of $17.45 billion, a P/E ratio of 160.82, a PEG ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,008,870 shares of company stock valued at $416,950,073. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the third quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the 3rd quarter worth $28,000. FNY Investment Advisers LLC lifted its stake in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after purchasing an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the third quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies in the third quarter valued at about $47,000. Institutional investors own 38.43% of the company's stock.

About SoFi Technologies

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.