SoFi Technologies (NASDAQ:SOFI) Trading Down 0.3% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 0.3% during mid-day trading on Monday . The company traded as low as $10.63 and last traded at $11.01. Approximately 14,425,035 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 46,778,773 shares. The stock had previously closed at $11.04.

Analyst Ratings Changes

A number of research analysts have issued reports on SOFI shares. Jefferies Financial Group upped their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.32.

SoFi Technologies Trading Up 0.1 %

The firm has a fifty day moving average of $8.67 and a 200-day moving average of $7.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 110.10, a P/E/G ratio of 1.88 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth $27,000. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the third quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its stake in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC grew its holdings in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $39,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.