SoFi Technologies (NASDAQ:SOFI) Trading Down 1.2% After Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was down 1.2% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $12.75 and last traded at $13.03. Approximately 14,073,378 shares were traded during trading, a decline of 71% from the average daily volume of 47,900,702 shares. The stock had previously closed at $13.19.

Specifically, EVP Kelli Keough sold 11,520 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the transaction, the executive vice president now directly owns 203,509 shares of the company's stock, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SOFI shares. Citizens Jmp initiated coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Barclays raised their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and a consensus target price of $14.38.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock's fifty day moving average is $12.18 and its 200-day moving average is $14.00. The stock has a market capitalization of $14.41 billion, a PE ratio of 35.21, a P/E/G ratio of 2.24 and a beta of 1.84.

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, topping the consensus estimate of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same period in the prior year, the company posted $0.02 EPS. The company's revenue for the quarter was up 32.7% on a year-over-year basis. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SOFI. Merit Financial Group LLC raised its position in SoFi Technologies by 65.9% during the fourth quarter. Merit Financial Group LLC now owns 31,172 shares of the company's stock worth $480,000 after acquiring an additional 12,383 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $235,000. Burr Financial Services LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $217,000. Key Client Fiduciary Advisors LLC acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $195,000. Finally, Yeomans Consulting Group Inc. purchased a new position in SoFi Technologies in the 4th quarter valued at about $334,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.

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