SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.4% – Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) fell 2.4% during trading on Monday . The stock traded as low as $15.42 and last traded at $15.59. 10,052,024 shares changed hands during trading, a decline of 79% from the average session volume of 47,319,801 shares. The stock had previously closed at $15.98.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Mizuho lifted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.04.

SoFi Technologies Stock Performance

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 stock’s fifty day moving average is $14.35 and its two-hundred day moving average is $9.91. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 154.02, a PEG ratio of 2.70 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the business earned ($0.03) earnings per share. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. On average, analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares in the last quarter. Marshall Wace LLP increased its position in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $16,014,000. Finally, Hsbc Holdings PLC grew its stake in shares of SoFi Technologies by 337.6% in the 2nd quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock valued at $4,715,000 after buying an additional 554,866 shares in 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.