SoFi Technologies (NASDAQ:SOFI) Shares Down 5% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 5% on Tuesday . The stock traded as low as $13.42 and last traded at $13.64. Approximately 19,803,291 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 43,927,438 shares. The stock had previously closed at $14.36.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. UBS Group boosted their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Mizuho boosted 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. Finally, Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Four investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The firm’s fifty day moving average price is $15.65 and its 200 day moving average price is $12.32. The firm has a market cap of $14.92 billion, a P/E ratio of 37.15, a price-to-earnings-growth ratio of 2.24 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 posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share 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 earnings per share. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 26,008,465 shares of company stock valued at $416,952,167 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Forum Financial Management LP boosted its stake in shares of SoFi Technologies by 15.2% in the fourth quarter. Forum Financial Management LP now owns 41,446 shares of the company’s stock worth $638,000 after acquiring an additional 5,475 shares during the last quarter. Warm Springs Advisors Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at about $2,464,000. CTC Alternative Strategies Ltd. acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $265,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of SoFi Technologies during the 4th quarter worth about $162,000. Finally, Sunbelt Securities Inc. lifted its stake in SoFi Technologies by 849.4% during the 4th quarter. Sunbelt Securities Inc. now owns 9,750 shares of the company’s stock worth $152,000 after acquiring an additional 8,723 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.