SoFi Technologies (NASDAQ:SOFI) Shares Down 1.4% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares fell 1.4% during trading on Wednesday . The company traded as low as $15.86 and last traded at $15.94. 9,930,114 shares were traded during trading, a decline of 78% from the average session volume of 45,924,242 shares. The stock had previously closed at $16.17.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SOFI. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays increased their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Needham & Company LLC increased their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Up 0.2 %

The company has a 50 day moving average price of $15.78 and a two-hundred day moving average price of $11.22. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 160.80, a P/E/G ratio of 1.19 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same quarter in the prior year, the business earned $0.04 EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

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

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.