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

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Barclays upped their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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 $15.70 and a 200 day simple moving average of $12.19. The firm has a market cap of $15.92 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. 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 (EPS) for the quarter, topping 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 company posted $0.04 earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,008,465 shares of company stock valued at $416,952,167. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently bought and sold shares of SOFI. Two Sigma Advisers LP bought a new stake in SoFi Technologies during the fourth quarter valued at about $299,980,000. Vanguard Group Inc. grew its position in shares of SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank purchased a new position in shares of SoFi Technologies during the fourth quarter valued at about $103,678,000. Voloridge Investment Management LLC purchased a new position in shares of SoFi Technologies during the fourth quarter valued at about $75,139,000. Finally, Amundi grew its position in SoFi Technologies by 58,176.3% in 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 owned by institutional investors.

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.