SoFi Technologies (NASDAQ:SOFI) Shares Down 1.5% Following Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI) fell 1.5% on Thursday following insider selling activity. The company traded as low as $15.81 and last traded at $16.07. 20,908,191 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 47,371,590 shares. The stock had previously closed at $16.32.

Specifically, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

SOFI has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays boosted 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, October 30th. Needham & Company LLC upped their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.36.

SoFi Technologies Trading Down 4.1 %

The firm has a market cap of $16.98 billion, a PE ratio of 156.52, a PEG ratio of 2.64 and a beta of 1.77. The firm has a fifty day simple moving average of $11.72 and a two-hundred day simple moving average of $8.71. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company 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%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of SOFI. Tidal Investments LLC lifted its holdings in SoFi Technologies by 15.2% in the first quarter. Tidal Investments LLC now owns 33,733 shares of the company’s stock worth $246,000 after buying an additional 4,459 shares during the period. Comerica Bank lifted its stake in shares of SoFi Technologies by 27.1% in the 1st quarter. Comerica Bank now owns 23,782 shares of the company’s stock valued at $174,000 after purchasing an additional 5,071 shares during the period. Cetera Investment Advisers boosted its position in shares of SoFi Technologies by 905.2% during the first quarter. Cetera Investment Advisers now owns 779,982 shares of the company’s stock valued at $5,694,000 after purchasing an additional 702,385 shares in the last quarter. GAMMA Investing LLC grew its stake in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the period. Finally, CWM LLC raised its holdings in SoFi Technologies by 21.7% in the second quarter. CWM LLC now owns 51,284 shares of the company’s stock worth $339,000 after purchasing an additional 9,151 shares in the last quarter. Institutional investors 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.