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

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SOFI shares. JMP Securities initiated coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target on the stock. UBS Group lifted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective for the company. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus price target of $14.38.

SoFi Technologies Stock Up 0.2%

The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 35.65, a P/E/G ratio of 2.24 and a beta of 1.84. The business's 50-day moving average is $12.21 and its 200-day moving average is $14.02. 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 posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company 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 firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 11,520 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the sale, the executive vice president now owns 203,509 shares of the company's stock, valued at $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the business's 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 102,507 shares of company stock valued at $1,283,528 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several large investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in SoFi Technologies during the 1st quarter valued at about $984,000. Intech Investment Management LLC grew its stake in SoFi Technologies by 12.5% during the 1st quarter. Intech Investment Management LLC now owns 180,798 shares of the company's stock valued at $2,103,000 after acquiring an additional 20,056 shares in the last quarter. Focus Partners Wealth grew its stake in SoFi Technologies by 4.3% during the 1st quarter. Focus Partners Wealth now owns 314,342 shares of the company's stock valued at $3,656,000 after acquiring an additional 12,831 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in SoFi Technologies during the 1st quarter valued at about $187,000. Finally, Bayforest Capital Ltd purchased a new stake in SoFi Technologies during the 1st quarter valued at about $490,000. 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.