SoFi Technologies (NASDAQ:SOFI) Trading Down 3.3% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price fell 3.3% during trading on Thursday . The company traded as low as $12.73 and last traded at $12.99. 15,034,266 shares were traded during 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

Several research analysts recently weighed in on SOFI shares. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Down 6.7 %

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. The firm has a 50-day moving average price of $15.39 and a 200 day moving average price of $12.63.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 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 period in the prior year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. The trade was a 197.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,004 shares of company stock valued at $2,292,100. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. Total Wealth Planning & Management Inc. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $821,000. Jefferies Financial Group Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at $1,164,000. Virtue Capital Management LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter worth $982,000. Forum Financial Management LP grew its holdings in shares of SoFi Technologies by 15.2% during the fourth quarter. Forum Financial Management LP now owns 41,446 shares of the company’s stock valued at $638,000 after buying an additional 5,475 shares in the last quarter. Finally, Warm Springs Advisors Inc. acquired a new position in SoFi Technologies during the fourth quarter valued at $2,464,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.