SoFi Technologies (NASDAQ:SOFI) Shares Down 5.9% – Should You Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 5.9% during trading on Monday . The company traded as low as $11.67 and last traded at $11.85. Approximately 15,335,844 shares changed hands during trading, a decline of 66% from the average daily volume of 45,605,363 shares. The stock had previously closed at $12.59.

Analyst Ratings Changes

Several brokerages recently issued reports on SOFI. Needham & Company LLC increased their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Citigroup raised their target price 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. UBS Group boosted their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Mizuho upped their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Price Performance

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 stock has a market capitalization of $12.35 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The business’s 50 day moving average price is $15.07 and its 200 day moving average price is $12.80.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business earned $0.04 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. The trade was a 4.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,004 shares of company stock valued at $2,292,100 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. 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 worth $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank bought a new stake in SoFi Technologies during the 4th quarter valued at approximately $103,678,000. Voloridge Investment Management LLC bought a new stake in SoFi Technologies during the 4th quarter valued at approximately $75,139,000. Finally, Amundi lifted its holdings in SoFi Technologies by 58,176.3% in the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after purchasing an additional 2,700,543 shares in the last quarter. Hedge funds and other 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.