SoFi Technologies (NASDAQ:SOFI) Trading Down 5.9% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price traded down 5.9% during trading on Monday . The stock traded as low as $11.67 and last traded at $11.85. 15,335,844 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 45,605,363 shares. The stock had previously closed at $12.59.

Analyst Ratings Changes

SOFI has been the topic of several analyst reports. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Bank of America reaffirmed an "underperform" rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Trading Down 3.6 %

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 business's 50-day moving average is $15.00 and its two-hundred day moving average is $12.79. The firm has a market cap of $12.59 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share 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 period in the previous year, the business posted $0.04 earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of the firm's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company's stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the transaction, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,004 shares of company stock worth $1,459,060 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of SoFi Technologies during the fourth quarter worth approximately $299,980,000. State Street Corp lifted its holdings in SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after purchasing an additional 310,532 shares during the last quarter. Geode Capital Management LLC boosted its stake in SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the period. Finally, Norges Bank acquired a new position in SoFi Technologies in the 4th quarter valued at $103,678,000. Institutional investors own 38.43% of the company's stock.

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.