SoFi Technologies (NASDAQ:SOFI) Trading Up 0.9%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 0.9% during mid-day trading on Tuesday . The stock traded as high as $7.66 and last traded at $7.61. 6,636,021 shares were traded during mid-day trading, a decline of 86% from the average session volume of 46,744,785 shares. The stock had previously closed at $7.54.

Analyst Ratings Changes

A number of research firms have commented on SOFI. Wedbush reissued an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday, July 2nd. Citigroup started coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.29.

SoFi Technologies Price Performance

The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of -24.42, a PEG ratio of 1.73 and a beta of 1.70. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The company’s 50 day simple moving average is $6.86 and its 200-day simple moving average is $7.40.

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 the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Noto acquired 28,775 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The disclosure for this purchase can be found here. Insiders acquired a total of 88,390 shares of company stock valued at $597,569 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC raised its position in shares of SoFi Technologies by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after purchasing an additional 1,498 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,508 shares in the last quarter. River Street Advisors LLC grew its holdings in SoFi Technologies by 4.5% during the fourth quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock worth $352,000 after acquiring an additional 1,526 shares during the period. PFG Investments LLC grew its stake in shares of SoFi Technologies by 5.5% in the 4th quarter. PFG Investments LLC now owns 29,655 shares of the company’s stock worth $295,000 after purchasing an additional 1,547 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted its position in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

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.