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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $17.92, but opened at $15.93. SoFi Technologies shares last traded at $16.28, with a volume of 42,026,679 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.71.

SoFi Technologies Stock Down 9.5 %

The company has a market capitalization of $17.60 billion, a PE ratio of 160.58, a P/E/G ratio of 1.19 and a beta of 1.78. The business has a 50-day moving average of $15.71 and a 200 day moving average of $11.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same period in the previous year, the company posted $0.04 earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the transaction, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,008,870 shares of company stock worth $416,950,073 over the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its stake in shares of SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after acquiring an additional 310,532 shares during the period. Geode Capital Management LLC raised its position in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Azora Capital LP grew its position in shares of SoFi Technologies by 8.8% during the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock valued at $34,176,000 after acquiring an additional 352,901 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.