SoFi Technologies (NASDAQ:SOFI) Trading Down 4.1% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 4.1% during trading on Monday . The company traded as low as $10.98 and last traded at $11.37. Approximately 16,234,201 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 44,852,820 shares. The stock had previously closed at $11.85.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Bank of America reissued an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Price Performance

The business has a 50 day simple moving average of $14.20 and a two-hundred day simple moving average of $13.31. The firm has a market capitalization of $13.06 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $0.04 EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $1,308,075 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $27,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $32,000. FNY Investment Advisers LLC raised its holdings in shares of SoFi Technologies by 727.1% during 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 in the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.