SoFi Technologies (NASDAQ:SOFI) Shares Down 3.3% - What's Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) dropped 3.3% during mid-day trading on Thursday . The company traded as low as $12.73 and last traded at $12.99. Approximately 15,034,266 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 45,334,578 shares. The stock had previously closed at $13.43.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho lifted their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Needham & Company LLC lifted their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group increased their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Finally, William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $12.50.

SoFi Technologies Stock Performance

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock's 50-day simple moving average is $15.07 and its 200-day simple moving average is $12.80. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates 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 last year, the firm posted $0.04 EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now directly owns 25,937 shares in the company, valued at $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,004 shares of company stock worth $2,292,100. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of SoFi Technologies during the 4th quarter worth $3,703,000. Hanseatic Management Services Inc. acquired a new position in SoFi Technologies during the fourth quarter worth about $1,116,000. Kercheville Advisors LLC bought a new position in shares of SoFi Technologies in the fourth quarter worth about $1,594,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at approximately $3,766,000. Institutional investors and hedge funds own 38.43% of the company's stock.

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.