SoFi Technologies (NASDAQ:SOFI) Shares Gap Down – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $17.92, but opened at $15.93. SoFi Technologies shares last traded at $16.28, with a volume of 42,026,679 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SOFI shares. Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays increased 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. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group increased their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.50.

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 company’s 50 day moving average price is $15.78 and its 200-day moving average price is $11.22. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 161.72, a PEG ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same period last year, the business earned $0.04 EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was 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 directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors increased its stake in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares during the period. Summit Trail Advisors LLC increased its stake in shares of SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after acquiring an additional 855 shares during the last quarter. CIBC Asset Management Inc grew its stake in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after purchasing an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC increased its position in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Procyon Advisors LLC raised its stake in shares of SoFi Technologies by 8.0% during the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after purchasing an additional 1,000 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.