SoFi Technologies (NASDAQ:SOFI) Shares Down 0.9% - Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price dropped 0.9% during trading on Monday . The company traded as low as $13.60 and last traded at $14.02. Approximately 12,458,609 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 37,456,730 shares. The stock had previously closed at $14.15.

Analyst Ratings Changes

Several brokerages recently issued reports on SOFI. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Bank of America reaffirmed an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and an average target price of $11.13.

SoFi Technologies Price Performance

The firm has a market capitalization of $15.27 billion, a P/E ratio of 140.71, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The business has a fifty day moving average of $15.02 and a 200-day moving average of $10.43.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the business posted ($0.03) EPS. The company's revenue was up 29.8% on a year-over-year basis. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction on Thursday, December 19th. The shares were 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 of the company's stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after purchasing an additional 9,482,683 shares during the last quarter. Marshall Wace LLP increased its position in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock valued at $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $16,014,000. Finally, Hsbc Holdings PLC lifted its position in shares of SoFi Technologies by 337.6% during the 2nd quarter. Hsbc Holdings PLC now owns 719,243 shares of the company's stock worth $4,715,000 after buying an additional 554,866 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.