SoFi Technologies (NASDAQ:SOFI) Shares Down 1.7% - Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares fell 1.7% on Wednesday . The company traded as low as $13.17 and last traded at $13.17. 16,929,591 shares were traded during mid-day trading, a decline of 65% from the average session volume of 47,973,577 shares. The stock had previously closed at $13.39.

Analysts Set New Price Targets

SOFI has been the subject of several recent analyst reports. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. Barclays upped their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. UBS Group raised their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Citizens Jmp started coverage on SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and a consensus price target of $14.38.

SoFi Technologies Stock Down 1.1%

The business's fifty day moving average price is $12.22 and its 200 day moving average price is $14.02. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 2.24 and a beta of 1.84. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same period in the previous year, the business posted $0.02 earnings per share. SoFi Technologies's quarterly revenue was up 32.7% on a year-over-year basis. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the sale, the executive vice president now owns 215,029 shares of the company's stock, valued at $2,302,960.59. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was 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 represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,507 shares of company stock worth $1,283,528. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. boosted its position in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies in the 1st quarter valued at about $28,000. Finally, Hollencrest Capital Management purchased a new stake in SoFi Technologies in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors 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.