SoFi Technologies (NASDAQ:SOFI) Trading Down 2.3% - Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares dropped 2.3% during mid-day trading on Wednesday . The company traded as low as $13.05 and last traded at $13.23. Approximately 10,202,085 shares changed hands during mid-day 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 Analyst Weigh In

Several research analysts have weighed in on the stock. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Bank of America reiterated an "underperform" rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Citigroup boosted 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 reaffirmed an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, The Goldman Sachs Group boosted their target price 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. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business has a fifty day moving average of $14.42 and a 200-day moving average of $13.17. The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 previous year, the company earned $0.04 EPS. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies during the 3rd quarter worth $28,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies during the 4th quarter valued at $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $32,000. Finally, FNY Investment Advisers LLC increased its position in SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after buying an additional 1,905 shares during the last quarter. 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.