SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.2% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 0.2% on Wednesday . The company traded as low as $10.38 and last traded at $10.56. Approximately 10,280,983 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 45,668,723 shares. The stock had previously closed at $10.58.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays reduced their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lowered their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.25.

SoFi Technologies Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The business has a 50 day simple moving average of $8.07 and a 200 day simple moving average of $7.37. The stock has a market cap of $10.94 billion, a PE ratio of -33.77, a P/E/G ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,328 shares of company stock worth $808,246 in the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of SoFi Technologies during the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC increased its position in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the period. Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies during the 1st quarter valued at $37,000. Finally, Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the 3rd quarter valued at $39,000. 38.43% of the stock is currently owned by institutional investors.

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.