SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.3% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 0.3% during trading on Friday . The stock traded as low as $13.08 and last traded at $13.36. 15,997,068 shares were traded during trading, a decline of 66% from the average session volume of 47,435,617 shares. The stock had previously closed at $13.40.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports 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 report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $9.32.

SoFi Technologies Price Performance

The company has a market capitalization of $14.22 billion, a price-to-earnings ratio of 133.61, a price-to-earnings-growth ratio of 2.25 and a beta of 1.60. The company has a 50-day moving average price of $9.57 and a 200-day moving average price of $7.89. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. On average, 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, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,636 shares of company stock worth $904,677. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. bought a new position in SoFi Technologies during the first quarter worth $79,000. Empowered Funds LLC grew its stake in shares of SoFi Technologies by 22.2% in the 1st quarter. Empowered Funds LLC now owns 47,854 shares of the company’s stock valued at $349,000 after buying an additional 8,707 shares during the period. Swiss National Bank increased its position in SoFi Technologies by 1.1% in the 1st quarter. Swiss National Bank now owns 1,798,400 shares of the company’s stock valued at $13,128,000 after buying an additional 19,600 shares in the last quarter. QRG Capital Management Inc. raised its stake in SoFi Technologies by 4.0% during the 1st quarter. QRG Capital Management Inc. now owns 53,849 shares of the company’s stock worth $393,000 after buying an additional 2,095 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in SoFi Technologies by 341.0% during the 1st quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company’s stock worth $318,000 after buying an additional 33,732 shares during the period. Institutional investors own 38.43% of the company’s stock.

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.