SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.9% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 3.9% on Tuesday . The company traded as low as $11.82 and last traded at $11.85. Approximately 9,694,095 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 44,508,599 shares. The stock had previously closed at $12.32.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SOFI shares. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Needham & Company LLC raised their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price 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 company has a market cap of $13.96 billion, a PE ratio of 34.41, a PEG ratio of 2.24 and a beta of 1.79. The company’s 50-day simple moving average is $14.73 and its 200 day simple moving average is $12.94.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company posted $0.04 earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the business’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 completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 27,013 shares of company stock valued at $437,402. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the fourth quarter valued at $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies in the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies in the fourth quarter valued at $32,000. FNY Investment Advisers LLC boosted its stake in 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 acquiring an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $38,000. 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.