SoFi Technologies (NASDAQ:SOFI) Shares Down 2.3% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 2.3% on Wednesday . The company traded as low as $13.05 and last traded at $13.23. Approximately 10,202,085 shares traded hands during trading, a decline of 77% from the average daily volume of 44,468,832 shares. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Morgan Stanley lifted their price objective on shares of 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 increased their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, six have given 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 currently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Down 3.1 %

The firm has a 50 day moving average of $14.64 and a 200-day moving average of $13.14. 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 firm has a market capitalization of $14.38 billion, a P/E ratio of 35.51, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.04 earnings per share. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The transaction 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 SoFi Technologies stock in a transaction on Tuesday, January 21st. The shares were 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. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the third quarter worth $28,000. Hollencrest Capital Management acquired a new position in shares of SoFi Technologies during the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new position in shares of SoFi Technologies in the 4th quarter valued at $32,000. Finally, FNY Investment Advisers LLC boosted its holdings in shares of SoFi Technologies by 727.1% during the 4th 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. Institutional investors 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.