SoFi Technologies (NASDAQ:SOFI) Trading Down 11.9% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 11.9% on Thursday . The company traded as low as $10.78 and last traded at $10.84. Approximately 25,061,075 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 45,132,820 shares. The stock had previously closed at $12.31.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research reports. Morgan Stanley boosted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. UBS Group upped their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Price Performance

The stock has a market cap of $10.49 billion, a PE ratio of 25.86, a P/E/G ratio of 2.24 and a beta of 1.79. 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 business has a fifty day simple moving average of $13.78 and a two-hundred day simple moving average of $13.30.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly 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 quarter in the previous year, the company posted $0.04 earnings per share. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other news, 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 value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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 company insiders.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Elequin Capital LP raised its stake in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after acquiring an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after acquiring an additional 685 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares in the last quarter. Procyon Advisors LLC lifted its stake in SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after acquiring an additional 1,000 shares during the period. Finally, Game Plan Financial Advisors LLC increased its position in SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after purchasing an additional 1,000 shares during the period. 38.43% of the stock is currently owned by 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.