SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.5% - Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price dropped 2.5% during mid-day trading on Wednesday . The company traded as low as $13.30 and last traded at $13.33. Approximately 21,492,954 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 48,535,339 shares. The stock had previously closed at $13.66.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They issued a "hold" rating and a $14.00 target price for the company. Citizens Jmp started coverage on SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target for the company. JMP Securities started coverage on SoFi Technologies in a research note on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and a consensus price target of $14.36.

SoFi Technologies Trading Up 4.2%

The business's fifty day moving average is $12.37 and its 200-day moving average is $14.01. The firm has a market cap of $15.74 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business 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 company's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. Analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares in the company, valued at approximately $2,877,391.20. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,507 shares of company stock valued at $1,283,528 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the 4th quarter valued at $27,000. Hazlett Burt & Watson Inc. increased its holdings in SoFi Technologies by 2,200.0% in the 1st 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 purchased a new stake in SoFi Technologies in the 1st quarter worth about $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies in the 1st quarter worth about $28,000. Finally, Hollencrest Capital Management purchased a new stake in SoFi Technologies in the 4th quarter worth about $31,000. 38.43% of the stock is currently owned by 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.