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

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group lifted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. 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. The Goldman Sachs Group upped their price objective 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. Finally, Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.50.

SoFi Technologies Trading Up 3.0 %

The firm's fifty day simple moving average is $12.60 and its 200-day simple moving average is $13.52. 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 cap of $12.04 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (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 period last year, the business earned $0.04 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares in the company, valued at approximately $2,877,391.20. This trade represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 over the last 90 days. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies in the fourth quarter worth approximately $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies in the 4th quarter worth $31,000. Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at $32,000. FNY Investment Advisers LLC increased its stake in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after purchasing an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC acquired a new position in SoFi Technologies during the fourth quarter worth $38,000. 38.43% of the stock is owned by 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.