SoFi Technologies (NASDAQ:SOFI) Shares Down 3.3% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 3.3% during mid-day trading on Thursday . The company traded as low as $12.73 and last traded at $12.99. 15,034,266 shares were traded during mid-day trading, a decline of 67% from the average session volume of 45,334,578 shares. The stock had previously closed at $13.43.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Up 1.1 %

The firm’s 50 day simple moving average is $15.31 and its 200-day simple moving average is $12.63. 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 company has a market capitalization of $13.81 billion, a PE ratio of 34.03, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share 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 previous year, the business posted $0.04 earnings per share. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other SoFi Technologies news, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,004 shares of company stock worth $2,292,100. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently made changes to their positions in SOFI. SBI Securities Co. Ltd. acquired a new stake in SoFi Technologies in the fourth quarter valued at $3,703,000. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $1,116,000. Kercheville Advisors LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $1,594,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Finally, Zacks Investment Management bought a new position in shares of SoFi Technologies during the third quarter worth about $3,766,000. 38.43% of the stock is currently owned by hedge funds and other 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.