SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.8% – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 0.8% on Friday . The stock traded as low as $10.81 and last traded at $11.08. Approximately 15,154,177 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 46,800,617 shares. The stock had previously closed at $11.17.

Analysts Set New Price Targets

Several equities research analysts recently commented on SOFI shares. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods reduced their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays lifted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.32.

SoFi Technologies Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The business’s 50 day moving average price is $8.67 and its 200-day moving average price is $7.56. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 110.41, a price-to-earnings-growth ratio of 1.88 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Equities analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 over the last 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the period. Finally, Waldron Private Wealth LLC bought a new position in SoFi Technologies in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds 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.