SoFi Technologies (NASDAQ:SOFI) Shares Down 4.1% - Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price dropped 4.1% on Thursday . The company traded as low as $14.78 and last traded at $14.86. Approximately 18,661,398 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 44,089,625 shares. The stock had previously closed at $15.49.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Needham & Company LLC lifted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Citigroup increased 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. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $12.50.

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SoFi Technologies Price Performance

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 firm has a market cap of $16.18 billion, a P/E ratio of 40.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The business has a 50-day simple moving average of $15.76 and a 200 day simple moving average of $11.63.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 last year, the firm earned $0.04 earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,590 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company's stock, valued at $415,510.74. This trade represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock worth $416,950,073 in the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. State Street Corp increased its position in SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock valued at $141,974,000 after acquiring an additional 310,532 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock worth $138,523,000 after buying an additional 358,806 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of SoFi Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock valued at $97,230,000 after purchasing an additional 167,780 shares during the last quarter. Azora Capital LP grew its holdings in SoFi Technologies by 8.8% during the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company's stock valued at $34,176,000 after buying an additional 352,901 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of SoFi Technologies by 214.9% in the third 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 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.