SoFi Technologies (NASDAQ:SOFI) Shares Down 1.7% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 1.7% during mid-day trading on Thursday . The company traded as low as $11.56 and last traded at $11.72. 12,435,307 shares were traded during trading, a decline of 73% from the average session volume of 46,470,309 shares. The stock had previously closed at $11.92.

Analysts Set New Price Targets

SOFI has been the subject of a number of recent research reports. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Citigroup boosted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Mizuho lifted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Down 4.5 %

The company has a market capitalization of $12.48 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a 50-day moving average of $15.00 and a two-hundred day moving average of $12.79. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating 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 firm posted $0.04 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,004 shares of company stock valued at $1,459,060. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors have recently bought and sold shares of SOFI. Centaurus Financial Inc. bought a new position in shares of SoFi Technologies in the fourth quarter worth approximately $172,000. Total Wealth Planning & Management Inc. bought a new position in SoFi Technologies in the 4th quarter valued at approximately $821,000. Jefferies Financial Group Inc. purchased a new stake in SoFi Technologies during the 4th quarter valued at $1,164,000. Virtue Capital Management LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth $982,000. Finally, Forum Financial Management LP raised its stake in shares of SoFi Technologies by 15.2% in the fourth quarter. Forum Financial Management LP now owns 41,446 shares of the company’s stock worth $638,000 after purchasing an additional 5,475 shares during the last quarter. 38.43% of the stock is 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.