SoFi Technologies (NASDAQ:SOFI) Shares Down 2% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price dropped 2% on Friday . The company traded as low as $12.02 and last traded at $12.21. Approximately 15,925,226 shares changed hands during trading, a decline of 65% from the average daily volume of 45,386,371 shares. The stock had previously closed at $12.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Price Performance

The stock’s 50 day moving average price is $15.31 and its two-hundred day moving average price is $12.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released 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 net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the company posted $0.04 earnings per share. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,004 shares of company stock worth $2,292,100. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently modified their holdings of SOFI. Two Sigma Advisers LP acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $299,980,000. Vanguard Group Inc. increased its stake 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 purchasing an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $103,678,000. Voloridge Investment Management LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $75,139,000. Finally, Amundi increased its position in shares of SoFi Technologies by 58,176.3% during the fourth 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 in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.