SoFi Technologies (NASDAQ:SOFI) Shares Gap Down – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) gapped down prior to trading on Monday . The stock had previously closed at $17.92, but opened at $15.93. SoFi Technologies shares last traded at $16.28, with a volume of 42,026,679 shares.

Analyst Ratings Changes

SOFI has been the topic of a number of recent research reports. UBS Group raised their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Price Performance

The firm has a market cap of $17.55 billion, a price-to-earnings ratio of 161.72, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The stock’s 50-day moving average price is $15.78 and its 200 day moving average price is $11.22. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same period in the prior year, the company posted $0.04 earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,008,870 shares of company stock worth $416,950,073 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth about $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies during the third quarter worth about $28,000. FNY Investment Advisers LLC raised its stake in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $47,000. 38.43% of the stock is owned by institutional investors.

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.