SoFi Technologies (NASDAQ:SOFI) Trading Down 2.4% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares fell 2.4% during trading on Thursday . The company traded as low as $14.33 and last traded at $14.55. 28,645,045 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 43,555,871 shares. The stock had previously closed at $14.91.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SOFI shares. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC lifted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.13.

SoFi Technologies Price Performance

The company has a 50 day moving average of $14.96 and a 200 day moving average of $10.33. 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 stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 141.51, a PEG ratio of 2.70 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares in the company, valued at $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,009,264 shares of company stock valued at $416,889,795. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Charles Schwab Investment Management Inc. boosted its stake in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the period. Zacks Investment Management purchased a new position in shares of SoFi Technologies during the third quarter worth about $3,766,000. Citizens Financial Group Inc. RI increased its position in SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after acquiring an additional 70,603 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in SoFi Technologies during the 3rd quarter worth approximately $930,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.