SoFi Technologies (NASDAQ:SOFI) Shares Down 11.9% - Here's Why

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 11.9% on Thursday . The stock traded as low as $10.78 and last traded at $10.84. 25,061,075 shares were traded during mid-day trading, a decline of 44% from the average session volume of 45,132,820 shares. The stock had previously closed at $12.31.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SOFI shares. Needham & Company LLC boosted 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. UBS Group lifted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Bank of America reaffirmed an "underperform" rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $12.50.

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SoFi Technologies Trading Down 10.1 %

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 market cap of $10.49 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The stock has a 50-day moving average price of $13.78 and a two-hundred day moving average price of $13.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business posted $0.04 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the transaction, the executive vice president now owns 226,210 shares of the company's stock, valued at approximately $2,877,391.20. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock worth $1,308,075 in the last three months. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies in the 4th quarter worth about $27,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies during the 4th quarter valued at $32,000. FNY Investment Advisers LLC grew 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 acquiring an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies in the fourth quarter worth $38,000. 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.