SoFi Technologies (NASDAQ:SOFI) Shares Down 5.9% – Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 5.9% during mid-day trading on Monday . The company traded as low as $11.67 and last traded at $11.85. Approximately 15,335,844 shares changed hands during trading, a decline of 66% from the average daily volume of 45,605,363 shares. The stock had previously closed at $12.59.

Analyst Ratings Changes

A number of research firms recently weighed in on SOFI. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. The Goldman Sachs Group upped their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Citigroup boosted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Needham & Company LLC increased their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Down 11.2 %

The firm has a 50-day moving average of $15.24 and a 200 day moving average of $12.74. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data 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 in the previous year, the company posted $0.04 EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,004 shares of company stock valued at $2,292,100. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently bought and sold shares of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Hollencrest Capital Management acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies during the fourth quarter worth about $32,000. FNY Investment Advisers LLC lifted its position in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC bought a new stake in SoFi Technologies in the 4th quarter valued at $38,000. 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.