SoFi Technologies (NASDAQ:SOFI) Shares Gap Down - Time to Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.07, but opened at $12.61. SoFi Technologies shares last traded at $12.47, with a volume of 12,917,419 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SOFI shares. William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Citigroup upped their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Bank of America reaffirmed an "underperform" rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Stock Down 2.9 %

The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 2.24 and a beta of 1.79. The firm has a fifty day simple moving average of $14.42 and a 200-day simple moving average of $13.21. 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 posted its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the business earned $0.04 EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, 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 sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares of the company's stock, valued at $2,877,391.20. The trade was a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Elequin Capital LP increased its stake in shares of SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after purchasing an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after acquiring an additional 685 shares during the last quarter. Captrust Financial Advisors raised its stake in SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock worth $233,000 after acquiring an additional 809 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock worth $208,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Game Plan Financial Advisors LLC increased its position in SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after purchasing an additional 1,000 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

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.