SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.1% - What's Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) dropped 1.1% during mid-day trading on Wednesday . The company traded as low as $14.42 and last traded at $14.67. Approximately 11,239,748 shares were traded during trading, a decline of 74% from the average daily volume of 42,589,445 shares. The stock had previously closed at $14.83.

Analyst Ratings Changes

Several analysts have recently commented on SOFI shares. Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Needham & Company LLC upped their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Stock Performance

The company's fifty day simple moving average is $15.70 and its 200 day simple moving average is $12.01. The firm has a market capitalization of $17.59 billion, a PE ratio of 43.81, a P/E/G ratio of 2.04 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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 (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.04 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies 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 transaction, the executive vice president now owns 178,811 shares of the company's stock, 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. Insiders sold 26,008,870 shares of company stock valued at $416,950,073 in the last 90 days. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies during the 4th quarter valued at about $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies in the fourth quarter worth approximately $31,000. FNY Investment Advisers LLC grew its holdings in shares of SoFi Technologies by 727.1% during the fourth 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. IAG Wealth Partners LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC raised its holdings in SoFi Technologies by 116.3% in the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock worth $48,000 after acquiring an additional 1,744 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.