SoFi Technologies (NASDAQ:SOFI) Trading Down 1.3% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded down 1.3% during mid-day trading on Tuesday . The company traded as low as $25.21 and last traded at $25.46. 38,332,522 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 49,571,684 shares. The stock had previously closed at $25.80.

Analyst Ratings Changes

SOFI has been the topic of several research reports. Barclays increased their price objective on shares of SoFi Technologies from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods raised their price target on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a report on Thursday, January 22nd. Needham & Company LLC increased their price objective on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Truist Financial decreased their target price on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average price target of $25.50.

SoFi Technologies Stock Down 1.3%

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The firm has a 50 day simple moving average of $27.07 and a 200-day simple moving average of $26.26. The stock has a market capitalization of $30.70 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 1.62 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. During the same quarter last year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 91,837 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total value of $2,446,537.68. Following the completion of the transaction, the chief technology officer owned 794,598 shares in the company, valued at $21,168,090.72. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the sale, the insider directly owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 167,245 shares of company stock valued at $4,362,815. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after acquiring an additional 6,814,727 shares in the last quarter. State Street Corp grew its position in SoFi Technologies by 30.7% during the 3rd quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after acquiring an additional 5,708,053 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of SoFi Technologies by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 9,792,807 shares of the company’s stock valued at $258,821,000 after purchasing an additional 67,504 shares in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies in the second quarter valued at approximately $164,068,000. Finally, Marshall Wace LLP raised its holdings in SoFi Technologies by 88.2% in the 2nd quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after buying an additional 3,748,817 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

About SoFi Technologies

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.