SoFi Technologies (NASDAQ:SOFI) Trading Down 1.8% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 1.8% on Tuesday . The company traded as low as $14.71 and last traded at $15.02. Approximately 14,643,018 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 40,410,723 shares. The stock had previously closed at $15.29.

Analysts Set New Price Targets

SOFI has been the topic of a number of recent research reports. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods reiterated 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. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.13.

SoFi Technologies Trading Down 2.4 %

The company’s 50 day simple moving average is $14.67 and its two-hundred day simple moving average is $10.15. 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 company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 149.31, a P/E/G ratio of 2.70 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,009,264 shares of company stock worth $416,889,795. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. Nordea Investment Management AB lifted its holdings in SoFi Technologies by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 898,467 shares of the company’s stock valued at $14,083,000 after purchasing an additional 10,506 shares in the last quarter. Waller Financial Planning Group Inc. lifted its stake in SoFi Technologies by 3,027.5% in the 4th quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock worth $157,000 after purchasing an additional 9,900 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of SoFi Technologies during the 4th quarter worth $498,000. GAMMA Investing LLC boosted its position in shares of SoFi Technologies by 40.3% during the 4th quarter. GAMMA Investing LLC now owns 5,925 shares of the company’s stock valued at $91,000 after acquiring an additional 1,703 shares during the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of SoFi Technologies by 6.5% in the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after purchasing an additional 1,336 shares during the period. Hedge funds and other 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.