SoFi Technologies (NASDAQ:SOFI) Shares Down 1.7% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price traded down 1.7% during mid-day trading on Thursday . The stock traded as low as $11.56 and last traded at $11.72. 12,435,307 shares changed hands during trading, a decline of 73% from the average session volume of 46,470,309 shares. The stock had previously closed at $11.92.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Finally, Citigroup raised their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.50.

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SoFi Technologies Trading Up 6.1 %

The stock has a market cap of $13.26 billion, a PE ratio of 32.68, a PEG ratio of 2.24 and a beta of 1.79. 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 stock has a fifty day moving average price of $14.89 and a 200 day moving average price of $12.85.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS 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 business posted $0.04 earnings per share. Equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Eric Schuppenhauer purchased 30,600 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares of the company's stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares of the company's stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,004 shares of company stock valued at $1,459,060. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after buying an additional 8,898,879 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of SoFi Technologies in the 4th quarter worth $299,980,000. State Street Corp lifted its holdings in shares of SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after buying an additional 310,532 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after buying an additional 315,899 shares during the period. Finally, Norges Bank purchased a new stake in shares of SoFi Technologies in the 4th quarter worth $103,678,000. 38.43% of the stock is owned by institutional investors.

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.