SoFi Technologies (NASDAQ:SOFI) Shares Down 1.5% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 1.5% during trading on Monday . The stock traded as low as $13.36 and last traded at $13.71. 19,003,479 shares were traded during mid-day trading, a decline of 60% from the average session volume of 47,442,145 shares. The stock had previously closed at $13.92.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SOFI. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price target for the company. JMP Securities initiated coverage on SoFi Technologies in a research report on Friday, April 25th. They set a “market outperform” rating and a $17.00 target price on the stock. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, The Goldman Sachs Group lifted their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Three equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.38.

SoFi Technologies Price Performance

The stock’s 50 day simple moving average is $12.07 and its 200-day simple moving average is $13.97. The firm has a market cap of $15.19 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. 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) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,172 shares of company stock worth $1,271,115. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. grew its position in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new position in SoFi Technologies in the first quarter valued at $28,000. SVB Wealth LLC acquired a new position in shares of SoFi Technologies in the first quarter worth about $28,000. Finally, Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies during the 4th quarter worth about $31,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.