SoFi Technologies (NASDAQ:SOFI) Shares Down 0.9% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 0.9% during mid-day trading on Monday . The stock traded as low as $13.60 and last traded at $14.02. 12,458,609 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 37,456,730 shares. The stock had previously closed at $14.15.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research analyst reports. Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Bank of America restated an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.13.

SoFi Technologies Stock Down 1.7 %

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 firm has a market cap of $15.09 billion, a price-to-earnings ratio of 139.11, a P/E/G ratio of 2.70 and a beta of 1.78. The stock has a 50-day moving average of $14.96 and a 200-day moving average of $10.38.

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

Insider Activity

In other news, Director Bashir Ruzwana sold 52,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares in the company, valued at $415,510.74. This trade represents a 66.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Cooper Financial Group grew its stake in shares of SoFi Technologies by 9.6% in the 4th quarter. Cooper Financial Group now owns 16,406 shares of the company’s stock worth $253,000 after acquiring an additional 1,443 shares in the last quarter. Wedmont Private Capital grew its position in SoFi Technologies by 23.5% in the 4th quarter. Wedmont Private Capital now owns 18,315 shares of the company’s stock worth $259,000 after purchasing an additional 3,486 shares in the last quarter. Brookstone Capital Management lifted its position in shares of SoFi Technologies by 3.7% during the 4th quarter. Brookstone Capital Management now owns 63,137 shares of the company’s stock worth $972,000 after buying an additional 2,268 shares in the last quarter. Nordea Investment Management AB increased its position in shares of SoFi Technologies by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 898,467 shares of the company’s stock valued at $14,083,000 after acquiring an additional 10,506 shares during the last quarter. Finally, Waller Financial Planning Group Inc. boosted its position in SoFi Technologies by 3,027.5% in the fourth quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock worth $157,000 after purchasing an additional 9,900 shares during the last quarter. 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.