SoFi Technologies (NASDAQ:SOFI) Shares Gap Down – Should You Sell?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $13.07, but opened at $12.61. SoFi Technologies shares last traded at $12.47, with a volume of 12,917,419 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SOFI. UBS Group boosted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Citigroup increased their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Bank of America reissued an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. 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 note on Monday, December 2nd. Finally, Needham & Company LLC lifted their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Down 2.9 %

The firm has a market cap of $12.99 billion, a PE ratio of 32.03, a PEG ratio of 2.24 and a beta of 1.79. 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 business has a 50-day moving average price of $14.42 and a two-hundred day moving average price of $13.17.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 11,181 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,905 shares of company stock valued at $1,308,075. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the 4th quarter worth $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the third quarter worth about $28,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies during the 4th quarter valued at about $32,000. Finally, FNY Investment Advisers LLC raised its holdings in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

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.