SoFi Technologies (NASDAQ:SOFI) Shares Gap Down – Time to Sell?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) gapped down prior to trading on Monday . The stock had previously closed at $17.92, but opened at $15.93. SoFi Technologies shares last traded at $16.28, with a volume of 42,026,679 shares traded.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup lifted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Stock Performance

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 firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 160.58, a PEG ratio of 1.19 and a beta of 1.78. The stock’s 50-day moving average is $15.71 and its 200-day moving average is $11.08.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same period in the previous year, the company posted $0.04 earnings per share. On average, analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 over the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Yousif Capital Management LLC raised its holdings in shares of SoFi Technologies by 13.7% in the 4th quarter. Yousif Capital Management LLC now owns 12,436 shares of the company’s stock worth $192,000 after purchasing an additional 1,496 shares during the period. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of SoFi Technologies by 12.9% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company’s stock valued at $9,131,000 after acquiring an additional 67,779 shares in the last quarter. Wealthspan Partners LLC lifted its position in SoFi Technologies by 15.5% during the fourth quarter. Wealthspan Partners LLC now owns 19,761 shares of the company’s stock valued at $304,000 after purchasing an additional 2,645 shares during the last quarter. River Street Advisors LLC raised its position in shares of SoFi Technologies by 9.9% during the 4th quarter. River Street Advisors LLC now owns 63,023 shares of the company’s stock valued at $971,000 after buying an additional 5,654 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in SoFi Technologies in the fourth quarter worth $192,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.