SoFi Technologies (NASDAQ:SOFI) Shares Down 3.2% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 3.2% during mid-day trading on Friday . The stock traded as low as $11.77 and last traded at $11.81. Approximately 11,697,290 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 44,616,793 shares. The stock had previously closed at $12.20.

Analyst Ratings Changes

Several analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group increased their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average is $14.51 and its two-hundred day moving average is $13.14. The company has a market capitalization of $12.91 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

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

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock valued at $1,308,075 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of SOFI. 111 Capital bought a new position in shares of SoFi Technologies in the fourth quarter worth $438,000. Keystone Financial Services LLC purchased a new position in SoFi Technologies during the 4th quarter valued at about $275,000. Centaurus Financial Inc. bought a new stake in shares of SoFi Technologies during the fourth quarter valued at about $172,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter worth about $821,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,164,000. 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.