SoFi Technologies (NASDAQ:SOFI) Stock Price Down 8.5% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price dropped 8.5% during trading on Tuesday . The company traded as low as $12.24 and last traded at $12.41. Approximately 30,533,628 shares changed hands during trading, a decline of 32% from the average daily volume of 45,004,020 shares. The stock had previously closed at $13.57.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of research reports. Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. UBS Group upped their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group upped their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The firm has a market capitalization of $14.35 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. The firm has a 50 day moving average price of $15.50 and a 200-day moving average price of $12.59. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 business earned $0.04 EPS. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,249,912 shares of company stock valued at $388,709,806. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Elequin Capital LP lifted its holdings in SoFi Technologies by 30.1% in 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 during the last quarter. CIBC Private Wealth Group LLC boosted its stake in 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 boosted its stake in 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. Summit Trail Advisors LLC boosted its stake in SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.