SoFi Technologies (NASDAQ:SOFI) Stock Price Down 5.3% – Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded down 5.3% during trading on Thursday . The company traded as low as $13.94 and last traded at $14.59. 29,295,874 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 47,335,980 shares. The stock had previously closed at $15.40.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group boosted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.13.

SoFi Technologies Price Performance

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 firm has a market cap of $16.10 billion, a PE ratio of 148.41, a P/E/G ratio of 2.70 and a beta of 1.77. The business’s fifty day moving average is $14.59 and its 200-day moving average is $10.04.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. 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 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the business posted ($0.03) EPS. SoFi Technologies’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Waller Financial Planning Group Inc. grew its holdings in shares of SoFi Technologies by 3,027.5% during the 4th quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock worth $157,000 after acquiring an additional 9,900 shares during the period. Everence Capital Management Inc. bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $498,000. GAMMA Investing LLC grew its stake in SoFi Technologies by 40.3% in the fourth quarter. GAMMA Investing LLC now owns 5,925 shares of the company’s stock worth $91,000 after purchasing an additional 1,703 shares during the period. World Investment Advisors LLC raised its holdings in SoFi Technologies by 6.5% in the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after purchasing an additional 1,336 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in SoFi Technologies during the third quarter valued at $1,649,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

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.