SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.3% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 2.3% on Wednesday . The company traded as low as $13.05 and last traded at $13.23. Approximately 10,202,085 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 44,468,832 shares. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of analyst reports. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Down 0.5 %

The firm’s 50 day moving average price is $14.51 and its 200-day moving average price is $13.14. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $13.32 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter last year, the company earned $0.04 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now directly owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock worth $1,308,075 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SOFI. Elequin Capital LP boosted its stake in shares of SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after buying an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after buying an additional 685 shares in the last quarter. Captrust Financial Advisors increased its holdings in SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after buying an additional 809 shares during the last quarter. Procyon Advisors LLC raised its position in SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its stake in SoFi Technologies by 13.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds 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.