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

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

Analysts Set New Price Targets

Several research analysts have weighed in on SOFI shares. UBS Group increased their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Citigroup upped their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 2.43 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $15.74 and its 200-day simple moving average is $12.11.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business earned $0.04 EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This trade represents a 4.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,999,280 shares of company stock worth $416,810,442. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the 3rd quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the 4th quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the 3rd quarter worth approximately $28,000. Hollencrest Capital Management bought a new position in SoFi Technologies during the 4th quarter worth approximately $31,000. Finally, Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies during the 4th quarter worth approximately $32,000. Institutional investors own 38.43% of the company’s stock.

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.