SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.1% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 2.1% on Friday . The stock traded as low as $15.05 and last traded at $15.23. 9,899,677 shares changed hands during trading, a decline of 77% from the average session volume of 43,075,699 shares. The stock had previously closed at $15.56.

Analysts Set New Price Targets

A number of research firms have weighed in on SOFI. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Morgan Stanley raised their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Mizuho raised their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Down 5.9 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market capitalization of $15.90 billion, a PE ratio of 39.50, a PEG ratio of 2.33 and a beta of 1.77. The business has a 50 day moving average of $15.73 and a two-hundred day moving average of $12.13.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 period last year, the firm earned $0.04 EPS. Analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The transaction was disclosed in a legal 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 business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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. Insiders sold 25,999,280 shares of company stock worth $416,810,442 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after buying an additional 8,898,879 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $299,980,000. State Street Corp lifted its position in shares of SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after buying an additional 310,532 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after buying an additional 315,899 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $103,678,000. Hedge funds and other 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.