SoFi Technologies (NASDAQ:SOFI) Shares Down 2.1% Following Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI) shares dropped 2.1% on Friday following insider selling activity. The company traded as low as $15.05 and last traded at $15.23. Approximately 9,899,677 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 43,075,699 shares. The stock had previously closed at $15.56.

Specifically, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of brokerages have recently commented on SOFI. JPMorgan Chase & Co. upped their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group upped their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price 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 stock has a market capitalization of $15.92 billion, a P/E ratio of 39.65, a PEG ratio of 2.24 and a beta of 1.77. The company’s 50 day simple moving average is $15.70 and its two-hundred day simple moving average is $12.23.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share 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 business earned $0.04 EPS. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of the stock. Elequin Capital LP lifted its position in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock worth $881,000 after purchasing an additional 685 shares in the last quarter. Captrust Financial Advisors lifted its holdings in SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares during the period. Summit Trail Advisors LLC lifted its holdings in SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after buying an additional 855 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after buying an additional 962 shares during the period. 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.