SoFi Technologies (NASDAQ:SOFI) Shares Down 8.5% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded down 8.5% during trading on Tuesday . The company traded as low as $12.24 and last traded at $12.41. 30,533,628 shares changed hands during trading, a decline of 32% from the average session volume of 45,004,020 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. UBS Group lifted their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Needham & Company LLC lifted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $12.50.

SoFi Technologies Price 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 company has a 50 day moving average price of $15.31 and a 200 day moving average price of $12.63. The company has a market capitalization of $13.81 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 quarter in the prior year, the company posted $0.04 earnings per share. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elequin Capital LP grew its holdings in SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after buying an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after buying an additional 685 shares in the last quarter. Captrust Financial Advisors grew its holdings in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after buying an additional 809 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after buying an additional 855 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock worth $223,000 after purchasing an additional 962 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.