SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.2% - Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was down 3.2% during mid-day trading on Friday . The company traded as low as $10.07 and last traded at $10.18. Approximately 13,414,045 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 45,821,198 shares. The stock had previously closed at $10.52.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Citigroup increased their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Needham & Company LLC lifted their price objective on shares of 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 reaffirmed an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Stock Performance

The company's 50-day moving average is $12.92 and its two-hundred day moving average is $13.47. The company has a market capitalization of $12.00 billion, a P/E ratio of 29.57, a PEG ratio of 2.24 and a beta of 1.86. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. 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 18.64% and a return on equity of 3.82%. During the same period last year, the business posted $0.04 EPS. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ purchased a new position in SoFi Technologies during the 4th quarter valued at about $27,000. Hollencrest Capital Management bought a new position in SoFi Technologies in the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $32,000. FNY Investment Advisers LLC grew its position in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after buying an additional 1,905 shares during the period. Finally, IAG Wealth Partners LLC bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $38,000. Hedge funds and other 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.