SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.1% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 2.1% during trading on Friday . The stock traded as low as $15.05 and last traded at $15.23. Approximately 9,899,677 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 43,075,699 shares. The stock had previously closed at $15.56.

Analyst Upgrades and Downgrades

SOFI has been the subject of several research reports. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Citigroup upped their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Mizuho upped their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

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 $15.90 billion, a price-to-earnings ratio of 39.50, a P/E/G ratio of 2.33 and a beta of 1.77. The business’s 50-day moving average price is $15.73 and its two-hundred day moving average price is $12.13.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. 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 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares of the company’s stock, valued at $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 25,999,280 shares of company stock valued at $416,810,442 over the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. bought a new stake in SoFi Technologies in the fourth quarter valued at $1,116,000. Kercheville Advisors LLC bought a new stake in SoFi Technologies in the fourth quarter valued at $1,594,000. Charles Schwab Investment Management Inc. lifted its stake in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after buying an additional 87,097 shares during the last quarter. Zacks Investment Management bought a new stake in SoFi Technologies in the third quarter valued at $3,766,000. Finally, Citizens Financial Group Inc. RI raised its stake in shares of SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares in the last quarter. 38.43% of the stock is currently owned by 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.