SoFi Technologies (NASDAQ:SOFI) Trading Down 3.2% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 3.2% during trading on Friday . The stock traded as low as $11.77 and last traded at $11.81. 11,697,290 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 44,616,793 shares. The stock had previously closed at $12.20.

Analysts Set New Price Targets

A number of analysts have commented on SOFI shares. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Bank of America reissued an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Down 2.9 %

The company’s fifty day simple moving average is $14.42 and its 200-day simple moving average is $13.21. The firm has a market capitalization of $12.99 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating 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 in the prior year, the company posted $0.04 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock worth $1,308,075 in the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SOFI. Vanguard Group Inc. lifted 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 acquiring an additional 8,898,879 shares in the last quarter. Two Sigma Advisers LP purchased a new position in SoFi Technologies in the fourth quarter valued at approximately $299,980,000. State Street Corp lifted its holdings in shares of SoFi Technologies by 1.7% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after buying an additional 315,899 shares during the period. Finally, Norges Bank acquired a new stake in SoFi Technologies in the fourth quarter valued at approximately $103,678,000. Institutional investors and hedge funds 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.