SoFi Technologies (NASDAQ:SOFI) Stock Price Down 5.3% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 5.3% during mid-day trading on Thursday . The company traded as low as $13.94 and last traded at $14.59. 29,295,874 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 47,335,980 shares. The stock had previously closed at $15.40.

Analyst Ratings Changes

SOFI has been the topic of a number of research reports. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho boosted their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus target price of $11.13.

SoFi Technologies Price Performance

The firm has a 50-day moving average of $14.45 and a 200 day moving average of $9.95. 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 company has a market capitalization of $15.15 billion, a PE ratio of 139.61, a PEG ratio of 2.70 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the executive vice president now owns 46,105 shares of the company’s stock, valued at $753,355.70. This represents a 197.36 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the transaction, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently modified their holdings of SOFI. State Street Corp grew its holdings in SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC lifted its position in shares of SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after buying an additional 358,806 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares during the period. Marshall Wace LLP increased its holdings in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in SoFi Technologies by 1.4% in 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. 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.