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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price dropped 3.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $13.81 and last traded at $14.11. Approximately 20,368,326 shares were traded during 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 SoFi Technologies stock in a transaction that occurred 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 transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SOFI shares. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Barclays lifted their price objective 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. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.24 and a beta of 1.77. The firm’s fifty day moving average is $15.65 and its 200 day moving average is $12.32.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 quarter in the previous year, the company earned $0.04 earnings per share. On average, analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Trading of SoFi Technologies

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in SoFi Technologies by 67.9% in the third quarter. Blue Trust Inc. now owns 13,606 shares of the company’s stock valued at $107,000 after acquiring an additional 5,504 shares during the last quarter. Raymond James & Associates lifted its stake in SoFi Technologies by 2.1% in the third quarter. Raymond James & Associates now owns 531,363 shares of the company’s stock valued at $4,177,000 after acquiring an additional 11,062 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in SoFi Technologies in the third quarter valued at approximately $137,000. International Assets Investment Management LLC lifted its stake in SoFi Technologies by 1,159.5% in the third quarter. International Assets Investment Management LLC now owns 346,673 shares of the company’s stock valued at $2,725,000 after acquiring an additional 319,148 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in SoFi Technologies by 29.3% in the third quarter. Allworth Financial LP now owns 15,187 shares of the company’s stock valued at $119,000 after acquiring an additional 3,440 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.