SoFi Technologies (NASDAQ:SOFI) Trading Down 5.9% - Should You Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 5.9% on Thursday . The company traded as low as $15.06 and last traded at $15.23. 19,994,495 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 43,151,055 shares. The stock had previously closed at $16.18.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SOFI. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price objective on 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 boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Finally, William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Price Performance

The business has a 50-day simple moving average of $15.73 and a 200 day simple moving average of $12.13. The stock has a market cap of $15.92 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 2.33 and a beta of 1.77. The company has a current ratio of 0.49, a quick ratio of 0.18 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 earnings per share (EPS) 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 period in the prior year, the business posted $0.04 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares of the company's stock, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,999,280 shares of company stock valued at $416,810,442 in the last ninety days. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SOFI. Blue Trust Inc. raised its stake in SoFi Technologies by 67.9% during the 3rd quarter. Blue Trust Inc. now owns 13,606 shares of the company's stock worth $107,000 after buying an additional 5,504 shares during the period. Raymond James & Associates raised its stake in SoFi Technologies by 2.1% during the 3rd quarter. Raymond James & Associates now owns 531,363 shares of the company's stock worth $4,177,000 after buying an additional 11,062 shares during the period. Foundations Investment Advisors LLC acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $137,000. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $39,000. Finally, International Assets Investment Management LLC raised its stake in SoFi Technologies by 1,159.5% during the 3rd quarter. International Assets Investment Management LLC now owns 346,673 shares of the company's stock worth $2,725,000 after buying an additional 319,148 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

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.