SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.7% - Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 1.7% on Wednesday . The stock traded as low as $10.58 and last traded at $10.76. Approximately 7,122,181 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 45,909,297 shares. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SOFI shares. UBS Group lifted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research 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 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Stock Up 3.0 %

The firm has a market cap of $12.04 billion, a PE ratio of 29.67, a PEG ratio of 2.24 and a beta of 1.86. The stock has a 50 day simple moving average of $12.60 and a 200-day simple moving average of $13.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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 the consensus estimate 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 quarter in the prior year, the business posted $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction that occurred on Thursday, February 20th. The stock was 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 approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SOFI. Mayfair Advisory Group LLC lifted its stake in shares of SoFi Technologies by 24.1% in the 1st quarter. Mayfair Advisory Group LLC now owns 15,685 shares of the company's stock worth $182,000 after purchasing an additional 3,050 shares during the period. Rakuten Securities Inc. grew its position in shares of SoFi Technologies by 66.9% during the 1st quarter. Rakuten Securities Inc. now owns 148,461 shares of the company's stock valued at $1,727,000 after acquiring an additional 59,494 shares during the period. Copia Wealth Management raised its holdings in SoFi Technologies by 3,316.0% in the 1st quarter. Copia Wealth Management now owns 3,416 shares of the company's stock worth $40,000 after purchasing an additional 3,316 shares during the period. Sowell Financial Services LLC purchased a new position in SoFi Technologies during the first quarter valued at $259,000. Finally, Janney Montgomery Scott LLC increased its position in SoFi Technologies by 17.6% in the first quarter. Janney Montgomery Scott LLC now owns 147,931 shares of the company's stock worth $1,720,000 after buying an additional 22,187 shares in the last quarter. 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.