SoFi Technologies (NASDAQ:SOFI) Shares Down 3.8% Following Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price dropped 3.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $13.81 and last traded at $14.11. Approximately 20,368,326 shares changed hands during trading, a decline of 53% from the average daily volume of 43,681,668 shares. The stock had previously closed at $14.67.

Specifically, EVP Kelli Keough sold 9,185 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Bank of America reiterated an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, UBS Group increased their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Up 2.8 %

The firm has a market cap of $15.70 billion, a PE ratio of 39.11, a price-to-earnings-growth ratio of 2.24 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $12.40.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the firm posted $0.04 EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Total Wealth Planning & Management Inc. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at about $821,000. Jefferies Financial Group Inc. bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $1,164,000. Virtue Capital Management LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $982,000. Forum Financial Management LP boosted its stake in SoFi Technologies by 15.2% in the fourth quarter. Forum Financial Management LP now owns 41,446 shares of the company's stock worth $638,000 after buying an additional 5,475 shares in the last quarter. Finally, Warm Springs Advisors Inc. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $2,464,000. 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.