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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price fell 0.9% during mid-day trading on Monday . The company traded as low as $13.60 and last traded at $14.02. 12,458,609 shares traded 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.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Citigroup boosted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.71.

SoFi Technologies Trading Up 6.1 %

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’s fifty day simple moving average is $15.08 and its 200-day simple moving average is $10.49. The stock has a market cap of $16.70 billion, a P/E ratio of 153.92, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78.

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

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. The trade was a 6.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the transaction, the director now directly owns 482,083 shares in the company, valued at $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,009,264 shares of company stock valued at $416,889,795. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC boosted its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group purchased a new position in SoFi Technologies during the 3rd quarter worth $28,000. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies in the 3rd quarter worth about $39,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of SoFi Technologies by 63.5% in the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after buying an additional 2,130 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.