SoFi Technologies (NASDAQ:SOFI) Trading Down 0.5% - Here's What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price dropped 0.5% on Friday . The company traded as low as $16.27 and last traded at $16.36. Approximately 10,623,245 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 45,171,051 shares. The stock had previously closed at $16.44.

Analyst Ratings Changes

A number of equities analysts recently commented 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 report on Tuesday, October 29th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Citigroup increased their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, SoFi Technologies has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Performance

The company has a fifty day moving average price of $15.83 and a two-hundred day moving average price of $11.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market capitalization of $16.80 billion, a P/E ratio of 41.79, a PEG ratio of 2.12 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the business earned $0.04 EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies 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 sale, the executive vice president now owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after acquiring an additional 310,532 shares in the last quarter. Geode Capital Management LLC grew its position in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after purchasing an additional 358,806 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after acquiring an additional 87,097 shares during the period. Azora Capital LP increased its stake in shares of SoFi Technologies by 8.8% in the third quarter. Azora Capital LP now owns 4,348,068 shares of the company's stock worth $34,176,000 after buying an additional 352,901 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after buying an additional 2,688,847 shares in the last quarter. 38.43% of the stock is currently 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.