SoFi Technologies (NASDAQ:SOFI) Shares Down 4.1% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares dropped 4.1% during mid-day trading on Thursday . The stock traded as low as $14.78 and last traded at $14.86. Approximately 18,661,398 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 44,089,625 shares. The stock had previously closed at $15.49.

Analyst Ratings Changes

SOFI has been the subject of several recent research reports. UBS Group upped their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Morgan Stanley raised their price target 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. Jefferies Financial Group boosted their price objective 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. Finally, Bank of America reiterated an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Performance

The stock has a 50 day moving average price of $15.79 and a two-hundred day moving average price of $11.55. The company has a market cap of $16.06 billion, a P/E ratio of 40.00, a price-to-earnings-growth ratio of 2.12 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data 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 3.82% and a net margin of 18.64%. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, research analysts predict that SoFi Technologies, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares of the company's stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % 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, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the sale, the director now owns 482,083 shares of the company's stock, valued at approximately $7,742,252.98. The trade was a 78.48 % 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 worth $416,950,073. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the third quarter worth about $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the third quarter valued at $28,000. FNY Investment Advisers LLC lifted its holdings in SoFi Technologies by 727.1% in the fourth 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. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies during the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

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.