SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.4% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price dropped 0.4% on Tuesday . The company traded as low as $15.83 and last traded at $15.84. Approximately 11,498,502 shares traded hands during trading, a decline of 76% from the average daily volume of 47,371,332 shares. The stock had previously closed at $15.91.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SOFI shares. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday. Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Citigroup lowered 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 assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $10.36.

SoFi Technologies Stock Performance

The company’s 50-day moving average price is $11.23 and its two-hundred day moving average price is $8.53. The stock has a market cap of $17.19 billion, a PE ratio of 158.42, a PEG ratio of 2.73 and a beta of 1.77. 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 issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,287 shares of company stock valued at $863,250. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SOFI. Citizens Financial Group Inc. RI increased its position in shares of SoFi Technologies by 41.5% in the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after acquiring an additional 70,603 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Qsemble Capital Management LP bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $930,000. Finally, Mount Lucas Management LP bought a new position in shares of SoFi Technologies during the third quarter valued at approximately $920,000. 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.