SoFi Technologies (NASDAQ:SOFI) Shares Down 1.4% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price traded down 1.4% during trading on Wednesday . The stock traded as low as $15.86 and last traded at $15.94. 9,930,114 shares were traded during mid-day trading, a decline of 78% from the average session volume of 45,924,242 shares. The stock had previously closed at $16.17.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SOFI shares. 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. Barclays raised their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Bank of America reiterated an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Mizuho lifted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Four equities research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $12.50.

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SoFi Technologies Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market cap of $16.70 billion, a P/E ratio of 41.75, a P/E/G ratio of 2.12 and a beta of 1.78. The firm has a 50 day simple moving average of $15.84 and a 200 day simple moving average of $11.39.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the company earned $0.04 earnings per share. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.28 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction that occurred 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 directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 in the last three months. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company's stock valued at $141,974,000 after purchasing an additional 310,532 shares during the last quarter. Geode Capital Management LLC grew its position in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after acquiring an additional 358,806 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Azora Capital LP lifted its holdings in shares of SoFi Technologies by 8.8% in the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company's stock worth $34,176,000 after acquiring an additional 352,901 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. Hedge funds and other institutional investors 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.