SoFi Technologies (NASDAQ:SOFI) Shares Down 2.9% – Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 2.9% on Wednesday . The stock traded as low as $16.24 and last traded at $16.35. Approximately 13,021,383 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 43,171,465 shares. The stock had previously closed at $16.83.

Analyst Ratings Changes

Several research firms have recently issued reports on SOFI. Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. UBS Group boosted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business has a 50-day moving average of $15.73 and a 200-day moving average of $12.08. The company has a market capitalization of $17.74 billion, a P/E ratio of 44.18, a P/E/G ratio of 2.34 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released its 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 18.64% and a return on equity of 3.82%. During the same period last year, the firm posted $0.04 earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other news, 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 transaction, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,999,280 shares of company stock valued at $416,810,442. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in SoFi Technologies during the 4th quarter valued at about $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $32,000. FNY Investment Advisers LLC raised its stake in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the fourth quarter worth $38,000. 38.43% of the stock is currently owned by 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.