SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.9% - Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was down 2.9% during trading on Wednesday . The company traded as low as $16.24 and last traded at $16.35. Approximately 13,021,383 shares were traded during trading, a decline of 70% from the average daily volume of 43,171,465 shares. The stock had previously closed at $16.83.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SOFI shares. Morgan Stanley raised their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a report on Thursday, December 19th. Jefferies Financial Group raised their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. UBS Group raised their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Trading Down 5.7 %

The business's 50-day moving average price is $15.70 and its 200 day moving average price is $12.19. The company has a market cap of $15.92 billion, a P/E ratio of 39.65, a P/E/G ratio of 2.24 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates 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 in the prior year, the firm posted $0.04 earnings per share. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction dated 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 of the company's stock, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company's stock, valued at $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,008,465 shares of company stock valued at $416,952,167. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the 3rd quarter worth about $27,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in SoFi Technologies in the 4th quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies in the 3rd quarter worth about $28,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies in the 4th quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies in the 4th quarter worth about $32,000. Institutional investors and hedge funds 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.