SoFi Technologies (NASDAQ:SOFI) Stock Price Down 4.1% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 4.1% during mid-day trading on Monday . The stock traded as low as $10.98 and last traded at $11.37. Approximately 16,234,201 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 44,852,820 shares. The stock had previously closed at $11.85.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of recent research reports. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Needham & Company LLC upped their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price objective 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. 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 MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Down 2.0 %

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 firm has a market capitalization of $12.74 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.24 and a beta of 1.79. The company’s 50-day simple moving average is $14.42 and its two-hundred day simple moving average is $13.25.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share 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 quarter in the previous year, the business posted $0.04 EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,181 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the transaction, the executive vice president now owns 226,210 shares of the company’s stock, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP bought a new stake in shares of SoFi Technologies in the fourth quarter valued at about $299,980,000. Vanguard Group Inc. boosted its position in SoFi Technologies by 9.9% during the 4th 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. Norges Bank bought a new position in shares of SoFi Technologies in the 4th quarter worth $103,678,000. Voloridge Investment Management LLC purchased a new stake in shares of SoFi Technologies during the 4th quarter worth $75,139,000. Finally, Amundi grew its stake in SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after purchasing an additional 2,700,543 shares during the last quarter. 38.43% of the stock is currently 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.