SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.2% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares dropped 2.2% during mid-day trading on Tuesday . The stock traded as low as $14.57 and last traded at $14.57. Approximately 19,215,247 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 49,619,014 shares. The stock had previously closed at $14.90.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SOFI. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Truist Financial began coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective on the stock. Stephens started coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Finally, Barclays increased their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $14.73.

SoFi Technologies Stock Performance

The stock has a market cap of $15.95 billion, a PE ratio of 35.20, a P/E/G ratio of 2.59 and a beta of 1.82. The firm's 50-day moving average is $12.96 and its 200 day moving average is $13.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80.

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, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction on 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 owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the completion of the sale, the executive vice president now directly owns 215,029 shares in the company, valued at approximately $2,302,960.59. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,787 shares of company stock valued at $3,753,076 over the last three months. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of the business. Elequin Capital LP grew its holdings in SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after acquiring an additional 631 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of SoFi Technologies by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after purchasing an additional 685 shares in the last quarter. Bank of New Hampshire grew its stake in shares of SoFi Technologies by 33.3% during the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after purchasing an additional 1,000 shares during the period. Vermillion & White Wealth Management Group LLC increased its holdings in shares of SoFi Technologies by 16.7% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock valued at $81,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in shares of SoFi Technologies by 1.8% in the first quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock valued at $737,000 after purchasing an additional 1,092 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.