SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.4% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price was down 2.4% during trading on Tuesday . The company traded as low as $13.37 and last traded at $13.41. Approximately 15,250,999 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 47,467,878 shares. The stock had previously closed at $13.73.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SOFI shares. William Blair restated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Barclays upped their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Finally, UBS Group increased their price target on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong 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 $14.38.

SoFi Technologies Price Performance

The stock has a fifty day moving average price of $12.11 and a 200-day moving average price of $13.99. The company has a market cap of $14.82 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,172 shares of company stock valued at $1,271,115. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in SOFI. Vanguard Group Inc. increased its position in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after acquiring an additional 1,130,250 shares during the period. Two Sigma Advisers LP acquired a new stake in SoFi Technologies during the fourth quarter worth approximately $299,980,000. Geode Capital Management LLC increased its position in shares of SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares during the period. Norges Bank bought a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $103,678,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of SoFi Technologies by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock valued at $75,278,000 after purchasing an additional 159,109 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Company Profile

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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