SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 3.9% on Tuesday . The company traded as low as $11.82 and last traded at $11.85. 9,694,095 shares traded hands during trading, a decline of 78% from the average session volume of 44,508,599 shares. The stock had previously closed at $12.32.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. The Goldman Sachs Group lifted their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, UBS Group lifted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $12.50.
Get Our Latest Research Report on SoFi Technologies
SoFi Technologies Stock Performance
The stock has a market cap of $14.11 billion, a P/E ratio of 34.78, a PEG ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a 50-day simple moving average of $14.67 and a 200-day simple moving average of $13.05.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly 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 return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the firm earned $0.04 EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.
Insider Buying and Selling at SoFi Technologies
In other news, CTO Jeremy Rishel sold 68,625 shares of the company'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 $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,819 shares of company stock valued at $1,447,044. 2.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On SoFi Technologies
Institutional investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies in the 4th quarter valued at $27,000. Hollencrest Capital Management purchased a new stake in SoFi Technologies in the 4th quarter valued at $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies in the 4th quarter valued at $32,000. FNY Investment Advisers LLC raised its position 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 buying an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies in the 4th quarter valued at $38,000. 38.43% of the stock is owned by institutional investors and hedge funds.
About SoFi Technologies
(
Get Free Report)
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.
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