SoFi Technologies (NASDAQ:SOFI) Shares Up 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 0.3% on Thursday . The company traded as high as $6.50 and last traded at $6.48. 5,583,508 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 48,015,832 shares. The stock had previously closed at $6.46.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Wedbush reaffirmed an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Jefferies Financial Group cut their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Stock Up 0.9 %

The stock has a market cap of $6.89 billion, a P/E ratio of -20.90, a PEG ratio of 1.49 and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The firm’s 50-day moving average is $6.96 and its two-hundred day moving average is $7.72.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $6.92 per share, with a total value of $199,988.00. Following the purchase, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. Insiders have bought 88,390 shares of company stock valued at $597,569 in the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in SoFi Technologies by 3.5% in the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after purchasing an additional 2,567,797 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of SoFi Technologies by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after acquiring an additional 493,707 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in SoFi Technologies during the fourth quarter worth about $38,595,000. Level Four Advisory Services LLC boosted its position in SoFi Technologies by 40.1% during the fourth quarter. Level Four Advisory Services LLC now owns 28,064 shares of the company’s stock valued at $279,000 after purchasing an additional 8,039 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in SoFi Technologies by 384.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 142,534 shares of the company’s stock valued at $1,418,000 after purchasing an additional 113,100 shares in 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.