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

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 3.9% on Tuesday . The stock traded as low as $11.82 and last traded at $11.85. Approximately 9,694,095 shares traded 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SOFI shares. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Needham & Company LLC raised their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their price objective 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. Morgan Stanley increased their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Down 2.9 %

The business’s 50-day moving average is $14.83 and its two-hundred day moving average is $12.92. 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 stock has a market capitalization of $13.11 billion, a PE ratio of 32.36, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its 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 earnings per share. On average, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares in the company, valued at $9,219,685.68. This trade represents a 9.98 % 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. Also, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,004 shares of company stock worth $1,459,060 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the 4th quarter valued at $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies during the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new position in shares of SoFi Technologies during the fourth quarter worth about $32,000. FNY Investment Advisers LLC grew 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 worth $33,000 after purchasing an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC bought a new stake in SoFi Technologies in the fourth quarter valued at 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.