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

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 5.9% during mid-day trading on Thursday . The company traded as low as $15.06 and last traded at $15.23. 19,994,495 shares were traded during mid-day trading, a decline of 54% from the average session volume of 43,151,055 shares. The stock had previously closed at $16.18.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley lifted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Citigroup lifted their price target 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. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Needham & Company LLC lifted their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Down 5.0 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $15.74 and its 200 day moving average is $12.11. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 41.50, a price-to-earnings-growth ratio of 2.43 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 company posted $0.04 EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction on Thursday, December 12th. The shares were 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 approximately $415,510.74. The trade was a 66.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the sale, the director now owns 482,083 shares in the company, valued at $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,999,280 shares of company stock worth $416,810,442. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Warm Springs Advisors Inc. bought a new position in shares of SoFi Technologies in the 4th quarter valued at about $2,464,000. CTC Alternative Strategies Ltd. bought a new position in shares of SoFi Technologies in the 4th quarter valued at about $265,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of SoFi Technologies in the 4th quarter valued at about $162,000. Sunbelt Securities Inc. grew its position in shares of SoFi Technologies by 849.4% in the 4th quarter. Sunbelt Securities Inc. now owns 9,750 shares of the company’s stock valued at $152,000 after acquiring an additional 8,723 shares during the period. Finally, Highview Capital Management LLC DE bought a new stake in shares of SoFi Technologies during the 4th quarter worth about $1,152,000. Institutional investors 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.