SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.4% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares dropped 1.4% during mid-day trading on Thursday . The company traded as low as $10.89 and last traded at $11.06. Approximately 19,204,590 shares changed hands during trading, a decline of 59% from the average daily volume of 46,774,574 shares. The stock had previously closed at $11.22.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SOFI. Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.32.

SoFi Technologies Trading Down 1.2 %

The firm’s 50 day simple moving average is $8.67 and its 200-day simple moving average is $7.56. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $11.77 billion, a PE ratio of 110.41, a P/E/G ratio of 1.89 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock valued at $904,677 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the 3rd quarter valued at about $27,000. ORG Partners LLC bought a new position in SoFi Technologies in the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC grew its position in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the 3rd quarter valued at about $39,000. Finally, GAMMA Investing LLC grew its position in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after buying an additional 1,981 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.