SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) dropped 1.1% on Tuesday . The company traded as low as $7.09 and last traded at $7.11. Approximately 8,307,200 shares traded hands during trading, a decline of 84% from the average daily volume of 51,981,590 shares. The stock had previously closed at $7.19.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SOFI shares. Jefferies Financial Group dropped their target price on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on SoFi Technologies from $12.00 to $11.00 and set a "hold" rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley restated an "underweight" rating and issued a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 30th. Finally, Citigroup assumed coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a "buy" rating and a $11.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and an average target price of $9.08.

SoFi Technologies Stock Performance

The stock has a market cap of $7.49 billion, a P/E ratio of -22.84 and a beta of 1.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The company has a 50 day simple moving average of $7.26 and a 200-day simple moving average of $7.83.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The company had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. During the same period in the prior year, the business posted ($0.05) EPS. The firm's revenue was up 26.2% compared to the same quarter last year. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Noto purchased 28,775 shares of SoFi Technologies stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $6.90 per share, with a total value of $198,547.50. Following the transaction, the chief executive officer now owns 8,033,369 shares of the company's stock, valued at $55,430,246.10. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company's stock valued at $610,458,000 after purchasing an additional 2,567,797 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in SoFi Technologies by 18.0% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company's stock worth $3,117,000 after purchasing an additional 59,412 shares in the last quarter. Hartline Investment Corp raised its stake in shares of SoFi Technologies by 3.4% in the third quarter. Hartline Investment Corp now owns 865,756 shares of the company's stock worth $6,917,000 after purchasing an additional 28,115 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of SoFi Technologies by 15.3% during the third quarter. Victory Capital Management Inc. now owns 96,052 shares of the company's stock worth $767,000 after purchasing an additional 12,741 shares during the period. Finally, Harbour Investments Inc. boosted its position in SoFi Technologies by 6.9% in the third quarter. Harbour Investments Inc. now owns 57,640 shares of the company's stock valued at $461,000 after buying an additional 3,727 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.