SoFi Technologies (NASDAQ:SOFI) Shares Down 2.1% Following Insider Selling

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 2.1% during trading on Friday following insider selling activity. The company traded as low as $15.05 and last traded at $15.23. 9,899,677 shares traded hands during trading, a decline of 77% from the average session volume of 43,075,699 shares. The stock had previously closed at $15.56.

Specifically, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Morgan Stanley lifted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Finally, William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm’s 50 day moving average is $15.70 and its 200-day moving average is $12.23. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 39.65, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period last year, the firm posted $0.04 earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Two Sigma Advisers LP acquired a new position in SoFi Technologies during the 4th quarter worth $299,980,000. Vanguard Group Inc. lifted its position in SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. Norges Bank acquired a new position in SoFi Technologies during the 4th quarter worth $103,678,000. Voloridge Investment Management LLC acquired a new position in SoFi Technologies during the 4th quarter worth $75,139,000. Finally, Amundi lifted its position in SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after acquiring an additional 2,700,543 shares during the last quarter. 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.