SoFi Technologies (NASDAQ:SOFI) Trading Down 11.4% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was down 11.4% on Friday . The company traded as low as $8.88 and last traded at $9.43. Approximately 38,866,773 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 45,286,881 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of equities analysts recently commented on SOFI shares. William Blair restated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Bank of America restated an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. 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 reiterated an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Four equities 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $12.50.

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SoFi Technologies Trading Down 3.7 %

The company has a market cap of $10.42 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.24 and a beta of 1.86. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business's fifty day simple moving average is $13.66 and its two-hundred day simple moving average is $13.38.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 quarter last year, the company posted $0.04 EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the firm'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 owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock valued at $1,308,075 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SOFI. Elequin Capital LP grew its holdings in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after buying an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after purchasing an additional 685 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after purchasing an additional 809 shares during the period. Procyon Advisors LLC increased its holdings in shares of SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after purchasing an additional 1,000 shares during the period. Finally, Game Plan Financial Advisors LLC raised its stake in shares of SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after purchasing an additional 1,000 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.