SoFi Technologies (NASDAQ:SOFI) Shares Down 3.6% - Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded down 3.6% on Thursday . The stock traded as low as $12.03 and last traded at $12.61. 18,783,984 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 44,543,294 shares. The stock had previously closed at $13.07.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SOFI. Bank of America reaffirmed an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four investment 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. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average target price of $12.50.

Remove Ads

SoFi Technologies Trading Down 2.9 %

The company has a market cap of $12.99 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 2.24 and a beta of 1.79. The business has a fifty day simple moving average of $14.42 and a 200 day simple moving average of $13.21. 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 announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $0.04 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of SOFI. Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after acquiring an additional 87,097 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in SoFi Technologies by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 267,956 shares of the company's stock worth $2,106,000 after purchasing an additional 4,130 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of SoFi Technologies by 3.9% during the 3rd quarter. D.A. Davidson & CO. now owns 87,664 shares of the company's stock worth $689,000 after buying an additional 3,322 shares during the last quarter. FMR LLC raised its position in shares of SoFi Technologies by 154.8% in the 3rd quarter. FMR LLC now owns 92,632 shares of the company's stock worth $728,000 after buying an additional 56,279 shares during the period. Finally, Brooklyn Investment Group acquired a new position in SoFi Technologies in the third quarter valued at $28,000. Institutional investors and hedge funds 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.