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

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group upped their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. 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 research report on Monday, December 2nd. The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Finally, Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $12.50.

SoFi Technologies Price Performance

The company has a 50 day moving average of $14.42 and a 200 day moving average of $13.25. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the company posted $0.04 earnings per share. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related 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 transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock worth $1,308,075 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Berkshire Capital Holdings Inc. raised its holdings in shares of SoFi Technologies by 6,208,000.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after buying an additional 620,800 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $3,703,000. Hanseatic Management Services Inc. acquired a new position in shares of SoFi Technologies during the fourth quarter worth $1,116,000. Kercheville Advisors LLC purchased a new position in shares of SoFi Technologies in the fourth quarter valued at $1,594,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.