SoFi Technologies (NASDAQ:SOFI) Trading Down 1.8% – Here’s Why

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 1.8% on Tuesday . The stock traded as low as $14.71 and last traded at $15.02. 14,643,018 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 40,410,723 shares. The stock had previously closed at $15.29.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SOFI. JPMorgan Chase & Co. lifted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. 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. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.13.

SoFi Technologies Stock Down 2.4 %

The firm has a market capitalization of $16.20 billion, a P/E ratio of 149.31, a PEG ratio of 2.70 and a beta of 1.78. The stock has a 50 day moving average of $14.67 and a 200-day moving average of $10.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. Research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. State Street Corp raised its holdings in SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after acquiring an additional 310,532 shares during the period. Geode Capital Management LLC raised its position in shares of 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 buying an additional 358,806 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Marshall Wace LLP grew its stake in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after acquiring an additional 3,593,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other 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.