SoFi Technologies (NASDAQ:SOFI) Trading Down 3.8% on Insider Selling

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) fell 3.8% during trading on Monday following insider selling activity. The company traded as low as $13.81 and last traded at $14.11. 20,368,326 shares were traded during mid-day trading, a decline of 53% from the average session volume of 43,681,668 shares. The stock had previously closed at $14.67.

Specifically, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SOFI. The Goldman Sachs Group raised their price target 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. JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Down 2.7 %

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 company has a market cap of $15.49 billion, a P/E ratio of 38.46, a PEG ratio of 2.24 and a beta of 1.77. The stock has a 50-day moving average of $15.70 and a 200 day moving average of $12.27.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the firm earned $0.04 EPS. Research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOFI. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the third quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies during the third quarter valued at about $28,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $32,000. 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.