SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.3% - Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 3.3% during mid-day trading on Thursday . The stock traded as low as $12.73 and last traded at $12.99. 15,034,266 shares were traded during trading, a decline of 67% from the average session volume of 45,334,578 shares. The stock had previously closed at $13.43.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SOFI. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Citigroup increased their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Bank of America reissued an "underperform" rating and set a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued 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 a consensus target price of $12.50.

SoFi Technologies Stock Performance

The company has a market cap of $13.81 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock's fifty day simple moving average is $15.24 and its 200 day simple moving average is $12.74.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released 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 period in the prior year, the business posted $0.04 earnings per share. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares of the company's stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,004 shares of company stock worth $2,292,100. Insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several hedge funds have recently made changes to their positions in the company. Total Wealth Planning & Management Inc. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $821,000. Jefferies Financial Group Inc. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $1,164,000. Virtue Capital Management LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $982,000. Forum Financial Management LP grew its stake in shares of SoFi Technologies by 15.2% in the 4th quarter. Forum Financial Management LP now owns 41,446 shares of the company's stock valued at $638,000 after buying an additional 5,475 shares during the period. Finally, Warm Springs Advisors Inc. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $2,464,000. 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.