SoFi Technologies (NASDAQ:SOFI) Trading Down 0.2% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was down 0.2% during mid-day trading on Wednesday . The company traded as low as $13.01 and last traded at $13.25. Approximately 17,039,201 shares were traded during trading, a decline of 64% from the average daily volume of 47,612,185 shares. The stock had previously closed at $13.27.

Analysts Set New Price Targets

A number of analysts recently issued reports on SOFI shares. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Barclays increased their target price on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group upped 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. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.38.

SoFi Technologies Stock Down 2.1%

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 has a market cap of $14.36 billion, a P/E ratio of 35.43, a PEG ratio of 2.24 and a beta of 1.84. The firm has a 50-day simple moving average of $12.15 and a two-hundred day simple moving average of $13.99.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The company's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS. Equities research analysts expect 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 firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,172 shares of company stock worth $1,271,115. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Intech Investment Management LLC boosted its stake in shares of SoFi Technologies by 12.5% during the first quarter. Intech Investment Management LLC now owns 180,798 shares of the company's stock valued at $2,103,000 after purchasing an additional 20,056 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of SoFi Technologies by 4.3% during the first quarter. Focus Partners Wealth now owns 314,342 shares of the company's stock valued at $3,656,000 after purchasing an additional 12,831 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in shares of SoFi Technologies during the first quarter valued at about $187,000. Bayforest Capital Ltd acquired a new position in shares of SoFi Technologies in the first quarter worth approximately $490,000. Finally, SCS Capital Management LLC acquired a new position in shares of SoFi Technologies in the first quarter worth approximately $193,000. 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.

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