SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.3% - Should You Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded down 3.3% during mid-day trading on Thursday . The company traded as low as $13.33 and last traded at $13.56. 22,691,142 shares changed hands during trading, a decline of 52% from the average session volume of 47,174,348 shares. The stock had previously closed at $14.03.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SOFI. JMP Securities started coverage on SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, Citizens Jmp began coverage on SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $14.38.

SoFi Technologies Stock Down 1.4%

The company's fifty day simple moving average is $12.07 and its 200 day simple moving average is $13.97. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $15.18 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the 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 sale, 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 filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. This trade represents a 9.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,172 shares of company stock worth $1,271,115. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Large investors have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the fourth quarter valued at $27,000. Hazlett Burt & Watson Inc. boosted its position in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after acquiring an additional 2,200 shares in the last quarter. Headlands Technologies LLC bought a new stake in SoFi Technologies during the first quarter valued at about $28,000. SVB Wealth LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. Finally, Hollencrest Capital Management acquired a new position in shares of SoFi Technologies during the fourth quarter worth $31,000. 38.43% of the stock is currently owned by institutional investors.

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.