No. There are difficulties in conveying the idea of the original language into English. As a result, some readers may feel that this passage indicates God doesn’t recognize our struggle with sin. They think that one sin causes them to lose their place in heaven.
In reality God sees our struggle all too well. He does not expect new Christians to mature and bear fruit over night. But John emphasizes an increasing conformity of a person’s will to the will of God. If, however, a person shows no sign of change, and in fact his life is characterized by sin, John says that the person has not been born of God. Also see verse 6. The word “continue” is the key to this answer.