SoFi Technologies (NASDAQ:SOFI) Trading Down 3.8% Following Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 3.8% on Monday after an insider sold shares in the company. The company traded as low as $13.81 and last traded at $14.11. Approximately 20,368,326 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 43,681,668 shares. The stock had previously closed at $14.67.

Specifically, EVP Kelli Keough sold 9,185 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SOFI shares. Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Citigroup boosted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The stock has a market cap of $15.58 billion, a P/E ratio of 38.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. 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 company’s fifty day simple moving average is $15.65 and its 200-day simple moving average is $12.32.

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 18.64% and a return on equity of 3.82%. During the same period last year, the firm posted $0.04 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Forum Financial Management LP boosted its stake in shares of SoFi Technologies by 15.2% in the 4th quarter. Forum Financial Management LP now owns 41,446 shares of the company’s stock valued at $638,000 after purchasing an additional 5,475 shares in the last quarter. Warm Springs Advisors Inc. acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $2,464,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $265,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $162,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of SoFi Technologies by 849.4% in the 4th quarter. Sunbelt Securities Inc. now owns 9,750 shares of the company’s stock valued at $152,000 after purchasing an additional 8,723 shares in the last quarter. 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.