SoFi Technologies (NASDAQ:SOFI) Shares Down 5.9% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 5.9% during mid-day trading on Thursday . The stock traded as low as $15.06 and last traded at $15.23. Approximately 19,994,495 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 43,151,055 shares. The stock had previously closed at $16.18.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SOFI. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Down 5.7 %

The business has a 50-day moving average price of $15.70 and a two-hundred day moving average price of $12.19. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $15.92 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the firm earned $0.04 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bashir Ruzwana sold 52,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares in the company, valued at $415,510.74. This trade represents a 66.72 % 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, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,008,465 shares of company stock valued at $416,952,167. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in SOFI. Blue Trust Inc. lifted its position in shares of SoFi Technologies by 67.9% during the 3rd quarter. Blue Trust Inc. now owns 13,606 shares of the company’s stock valued at $107,000 after acquiring an additional 5,504 shares during the period. Raymond James & Associates lifted its position in shares of SoFi Technologies by 2.1% during the 3rd quarter. Raymond James & Associates now owns 531,363 shares of the company’s stock valued at $4,177,000 after acquiring an additional 11,062 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at approximately $137,000. Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at approximately $39,000. Finally, International Assets Investment Management LLC lifted its position in shares of SoFi Technologies by 1,159.5% during the 3rd quarter. International Assets Investment Management LLC now owns 346,673 shares of the company’s stock valued at $2,725,000 after acquiring an additional 319,148 shares during the period. 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.