SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) dropped 2.4% during mid-day trading on Monday . The stock traded as low as $15.42 and last traded at $15.59. Approximately 10,052,024 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 47,319,801 shares. The stock had previously closed at $15.98.
Analysts Set New Price Targets
A number of research firms have recently commented on SOFI. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a report on Thursday, December 19th. Bank of America restated an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC boosted their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average target price of $11.04.
View Our Latest Stock Report on SOFI
SoFi Technologies Stock Down 2.2 %
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 company has a market capitalization of $16.96 billion, a PE ratio of 156.32, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77. The firm's 50-day simple moving average is $14.15 and its 200 day simple moving average is $9.79.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The firm's revenue was up 29.8% on a year-over-year basis. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP Kelli Keough sold 9,590 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. The trade was a 6.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were 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 have sold a total of 26,009,264 shares of company stock worth $416,889,795 in the last quarter. Company insiders own 2.60% of the company's stock.
Institutional Investors Weigh In On SoFi Technologies
Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the third quarter worth $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies during the 3rd quarter worth about $28,000. Allspring Global Investments Holdings LLC raised its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock valued at $29,000 after purchasing an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in SoFi Technologies in the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 38.43% of the company's stock.
About SoFi Technologies
(
Get Free Report)
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.
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