SoFi Technologies (NASDAQ:SOFI) Shares Down 1.1% - Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price dropped 1.1% during trading on Wednesday . The stock traded as low as $14.42 and last traded at $14.67. Approximately 11,239,748 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 42,589,445 shares. The stock had previously closed at $14.83.

Analyst Ratings Changes

SOFI has been the subject of several recent analyst reports. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note 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 report on Thursday, December 19th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. UBS Group upped their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $12.50.

SoFi Technologies Price Performance

The stock has a 50 day simple moving average of $15.69 and a two-hundred day simple moving average of $11.88. The firm has a market cap of $17.59 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the company posted $0.04 earnings per share. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 26,008,870 shares of company stock worth $416,950,073 in the last 90 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 made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. State Street Corp lifted its stake in SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after purchasing an additional 310,532 shares in the last quarter. Geode Capital Management LLC lifted its stake in SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares in the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at $103,678,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SoFi Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock valued at $97,230,000 after acquiring an additional 167,780 shares in the last quarter. 38.43% of the stock is currently 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.