SoFi Technologies (NASDAQ:SOFI) Trading Down 0.9% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 0.9% during trading on Tuesday . The stock traded as low as $13.50 and last traded at $13.60. 11,064,996 shares changed hands during trading, a decline of 75% from the average session volume of 44,572,179 shares. The stock had previously closed at $13.72.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Bank of America reiterated an "underperform" rating and set a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Stock Down 3.6 %

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 company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The firm's 50-day simple moving average is $14.51 and its two-hundred day simple moving average is $13.14.

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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, topping analysts' consensus estimates 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 company posted $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction 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 sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 in the last three months. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently bought and sold shares of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Brooklyn Investment Group purchased a new position in SoFi Technologies during the third quarter worth about $28,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies in the 4th quarter valued at about $32,000. Finally, FNY Investment Advisers LLC increased 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 valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. Institutional investors and hedge funds 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.