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

by · The Markets Daily

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report)’s share price dropped 1.5% on Wednesday . The stock traded as low as $15.35 and last traded at $15.40. Approximately 29,175,662 shares traded hands during trading, a decline of 38% from the average daily volume of 47,335,980 shares. The stock had previously closed at $15.63.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SOFI. Morgan Stanley upped their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Needham & Company LLC boosted their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.04.

View Our Latest Stock Report on SoFi Technologies

SoFi Technologies Stock Down 1.5 %

The firm has a market cap of $16.71 billion, a PE ratio of 154.02, a PEG ratio of 2.70 and a beta of 1.77. The company’s 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $9.91. 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 quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Eric Schuppenhauer bought 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Zacks Investment Management bought a new position in shares of SoFi Technologies during the third quarter valued at $3,766,000. Citizens Financial Group Inc. RI boosted its position in shares of SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after buying an additional 70,603 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $930,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

(Get Free Report)

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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