SoFi Technologies (NASDAQ:SOFI) Shares Down 1.3% - What's Next?

Key Points

• SoFi Technologies shares dropped 1.3% during mid-day trading, with 13.25 million shares exchanged, reflecting a significant 77% decline from the average trading volume.
• Brokerages have varied opinions on the stock, with price targets ranging from $12.00 to $20.00 and an average rating classified as "Hold."
• In the most recent earnings report, SoFi reported a 32.7% revenue increase year-over-year, with earnings per share of $0.06, exceeding estimates.
• Recent insider trading activity includes significant sales by both a director and the CTO, with insiders now holding 2.60% of the company's stock.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 1.3% during trading on Friday . The company traded as low as $21.21 and last traded at $21.23. 13,252,343 shares changed hands during trading, a decline of 77% from the average session volume of 57,883,289 shares. The stock had previously closed at $21.51.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. JMP Securities restated a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. TD Cowen assumed coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating and a $21.00 price target on the stock. Barclays upped their price target on SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Citizens Jmp downgraded shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average target price of $16.78.

SoFi Technologies Trading Down 1.4%

The firm has a market cap of $23.43 billion, a P/E ratio of 51.71, a price-to-earnings-growth ratio of 3.63 and a beta of 1.91. The stock has a fifty day simple moving average of $16.73 and a 200 day simple moving average of $14.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The company's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. On average, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction on Friday, July 18th. The stock was sold at an average price of $21.80, for a total value of $223,820.60. Following the completion of the sale, the executive vice president directly owned 245,200 shares of the company's stock, valued at $5,345,360. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,181 shares of company stock valued at $4,043,240. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Elequin Capital LP boosted its position in SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after purchasing an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after purchasing an additional 685 shares during the last quarter. USAdvisors Wealth Management LLC boosted its position in SoFi Technologies by 4.5% in the second quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company's stock worth $295,000 after purchasing an additional 700 shares during the last quarter. Wedmont Private Capital boosted its position in SoFi Technologies by 4.3% in the second quarter. Wedmont Private Capital now owns 21,493 shares of the company's stock worth $435,000 after purchasing an additional 879 shares during the last quarter. Finally, Bank of New Hampshire boosted its position in SoFi Technologies by 33.3% in the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after purchasing an additional 1,000 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other 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.