SoFi Technologies (NASDAQ:SOFI) Trading Down 1.7% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares fell 1.7% on Wednesday . The company traded as low as $10.58 and last traded at $10.76. 7,122,181 shares were traded during mid-day trading, a decline of 84% from the average session volume of 45,909,297 shares. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SOFI. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. UBS Group boosted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. 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, William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Stock Up 3.0 %

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 market capitalization of $12.04 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The business's 50 day simple moving average is $12.60 and its 200 day simple moving average is $13.48.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its 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 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the firm posted $0.04 earnings per share. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,905 shares of company stock worth $1,308,075. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SOFI. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies in the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $32,000. FNY Investment Advisers LLC grew its stake in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after acquiring an additional 1,905 shares during the period. Finally, IAG Wealth Partners LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $38,000. 38.43% of the stock is currently 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.