SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.8% - Should You Sell?

Key Points

• SoFi Technologies' stock price fell 3.8% to $21.55, with trading volume increasing significantly to nearly 95 million shares.
• Research analysts have mixed opinions on SoFi, with price targets ranging from $13.00 to $21.00, while the stock holds an average rating of "Hold."
• The company reported a 42.8% increase in revenue to $519.37 million year-over-year, surpassing earnings expectations but falling short of revenue targets set by analysts.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded down 3.8% on Wednesday . The stock traded as low as $20.43 and last traded at $21.55. 94,910,868 shares were traded during trading, an increase of 59% from the average session volume of 59,539,090 shares. The stock had previously closed at $22.40.

Wall Street Analyst Weigh In

Several research analysts recently commented on SOFI shares. Truist Financial lifted their price target on SoFi Technologies from $14.00 to $20.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods boosted their price objective on shares of SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. JMP Securities reissued a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research note on Monday, July 14th. UBS Group upped their target price 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. Finally, Barclays boosted their price target on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.28.

SoFi Technologies Stock Down 3.2%

The firm has a market cap of $23.98 billion, a price-to-earnings ratio of 52.72, a PEG ratio of 3.55 and a beta of 1.91. The firm has a 50 day moving average of $17.06 and a 200 day moving average of $14.72. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same period in the previous year, the business earned $0.01 EPS. SoFi Technologies's revenue was up 42.8% compared to the same quarter last year. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 11,520 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president directly owned 203,509 shares in the company, valued at $2,722,950.42. This trade represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,181 shares of company stock worth $4,043,240 over the last three months. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP acquired a new position in SoFi Technologies in the fourth quarter valued at $299,980,000. Norges Bank acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at about $103,678,000. Voloridge Investment Management LLC purchased a new position in SoFi Technologies during the 4th quarter worth approximately $75,139,000. Nuveen LLC acquired a new position in SoFi Technologies during the first quarter worth approximately $47,616,000. Finally, First Trust Advisors LP boosted its holdings in shares of SoFi Technologies by 583.6% in the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock valued at $41,375,000 after acquiring an additional 2,293,622 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.