SoFi Technologies (NASDAQ:SOFI) Shares Down 2.1% on Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price dropped 2.1% during mid-day trading on Friday following insider selling activity. The company traded as low as $15.05 and last traded at $15.23. Approximately 9,899,677 shares changed hands during trading, a decline of 77% from the average daily volume of 43,075,699 shares. The stock had previously closed at $15.56.

Specifically, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $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 can be accessed through this link.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Trading Down 2.1 %

The company has a market cap of $15.58 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. The firm has a 50-day moving average price of $15.65 and a 200 day moving average price of $12.32. 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 issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 last year, the business posted $0.04 earnings per share. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elequin Capital LP boosted its position in SoFi Technologies by 30.1% during 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 period. CIBC Private Wealth Group LLC boosted its position in SoFi Technologies by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after purchasing an additional 685 shares during the period. Captrust Financial Advisors boosted its position in SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after purchasing an additional 809 shares during the period. Summit Trail Advisors LLC boosted its position in SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after purchasing an additional 855 shares during the period. Finally, CIBC Asset Management Inc boosted its position in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock valued at $223,000 after purchasing an additional 962 shares during the period. Institutional investors and hedge funds 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.