SoFi Technologies (NASDAQ:SOFI) Trading Down 1.1% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 1.1% during trading on Wednesday . The stock traded as low as $14.42 and last traded at $14.67. Approximately 11,239,748 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 42,589,445 shares. The stock had previously closed at $14.83.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of analyst reports. UBS Group increased their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Bank of America restated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Barclays increased their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a 50 day simple moving average of $15.73 and a two-hundred day simple moving average of $11.77. The stock has a market cap of $15.94 billion, a P/E ratio of 39.74, a P/E/G ratio of 2.04 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (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 period last year, the firm posted $0.04 earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction 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 transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock valued at $416,950,073 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $27,000. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies during the 4th quarter worth $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies during the third quarter valued at about $28,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $31,000. Finally, FNY Investment Advisers LLC grew its position in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the last quarter. Institutional investors and hedge funds 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.