SoFi Technologies (NASDAQ:SOFI) Trading Down 3.9%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 3.9% during mid-day trading on Tuesday . The stock traded as low as $7.65 and last traded at $7.68. Approximately 13,835,924 shares traded hands during trading, a decline of 70% from the average daily volume of 45,935,465 shares. The stock had previously closed at $7.99.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SOFI shares. Keefe, Bruyette & Woods dropped their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Finally, BTIG Research assumed coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The business has a 50 day moving average price of $7.09 and a two-hundred day moving average price of $7.22. The company has a market cap of $7.68 billion, a P/E ratio of -23.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same quarter in the previous year, the business earned ($0.06) EPS. SoFi Technologies’s revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. The disclosure for this sale can be found here. Insiders have sold a total of 19,921,285 shares of company stock worth $135,057,462 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. ORG Partners LLC purchased a new stake in shares of SoFi Technologies in the first quarter valued at approximately $27,000. Tortoise Investment Management LLC bought a new position in SoFi Technologies in the fourth quarter worth approximately $39,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of SoFi Technologies during the fourth quarter worth $40,000. Allspring Global Investments Holdings LLC increased its position in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of SoFi Technologies during the fourth quarter worth $44,000. Hedge funds and other institutional investors 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.