SoFi Technologies (NASDAQ:SOFI) Stock Price Down 8.9% – Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 8.9% on Monday . The stock traded as low as $15.55 and last traded at $16.32. Approximately 55,473,208 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 44,404,418 shares. The stock had previously closed at $17.92.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Needham & Company LLC raised their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The firm has a market cap of $17.35 billion, a P/E ratio of 159.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The stock’s 50-day moving average is $15.78 and its 200-day moving average 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 posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same quarter in the prior year, the business posted $0.04 EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction on Monday, December 16th. The shares were bought at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter worth $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $28,000. FNY Investment Advisers LLC raised its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the period. Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies during the third quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in SoFi Technologies in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.