Keefe, Bruyette & Woods Trims SoFi Technologies (NASDAQ:SOFI) Target Price to $7.00

SoFi Technologies (NASDAQ:SOFI) had its price objective trimmed by Keefe, Bruyette & Woods from $7.50 to $7.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other equities research analysts have also recently commented on SOFI. Wedbush restated an underperform rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. BTIG Research began coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They set a neutral rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a hold rating for the company in a report on Tuesday, April 30th. Jefferies Financial Group decreased their price target on SoFi Technologies from $15.00 to $12.00 and set a buy rating on the stock in a report on Tuesday, March 26th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $9.29.

SoFi Technologies Trading Up 3.0 %

Shares of SoFi Technologies stock opened at $6.77 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The stock has a market capitalization of $7.16 billion, a PE ratio of -21.84, a P/E/G ratio of 1.48 and a beta of 1.70. SoFi Technologies has a 1-year low of $6.15 and a 1-year high of $11.70. The company’s fifty day simple moving average is $6.80 and its 200-day simple moving average is $7.53.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same period in the previous year, the business earned ($0.05) earnings per share. SoFi Technologies’s quarterly revenue was up 26.2% compared to the same quarter last year. As a group, equities analysts anticipate that SoFi Technologies will post 0.08 earnings per share for the current year.

Insider Activity at SoFi Technologies

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after acquiring an additional 1,366,271 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of SoFi Technologies by 176.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after buying an additional 6,870,610 shares during the period. Norges Bank bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $71,349,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SoFi Technologies by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock worth $54,659,000 after buying an additional 199,949 shares during the period. Institutional investors own 38.43% of the company’s stock.

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.