SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.5% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded down 1.5% during trading on Monday . The stock traded as low as $13.36 and last traded at $13.71. 19,003,479 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 47,442,145 shares. The stock had previously closed at $13.92.

Analyst Ratings Changes

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. JMP Securities initiated coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 target price for the company. Finally, Citizens Jmp initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They issued an “outperform” rating and a $17.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $14.38.

SoFi Technologies Stock Down 5.0%

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 firm has a market cap of $14.42 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.24 and a beta of 1.84. The firm has a 50-day moving average of $12.15 and a two-hundred day moving average of $13.99.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same quarter in the prior year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock worth $1,271,115 in the last three months. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $27,000. Hazlett Burt & Watson Inc. lifted its stake in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after purchasing an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $28,000. SVB Wealth LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $28,000. Finally, Hollencrest Capital Management acquired a new stake in SoFi Technologies during the 4th quarter worth $31,000. 38.43% of the stock is currently owned by 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.