SoFi Technologies (NASDAQ:SOFI) Shares Down 1.1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 1.1% during mid-day trading on Tuesday . The company traded as low as $7.36 and last traded at $7.38. 12,538,796 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 46,138,180 shares. The stock had previously closed at $7.46.

Wall Street Analyst Weigh In

SOFI has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. BTIG Research initiated coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price target 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. Keefe, Bruyette & Woods cut their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.20.

SoFi Technologies Trading Down 1.2 %

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 has a market cap of $7.79 billion, a price-to-earnings ratio of -23.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. The firm has a 50-day moving average price of $6.83 and a 200 day moving average price of $7.25.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction that occurred on Thursday, June 13th. The stock was 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 can be accessed through this hyperlink. In related news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction dated 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 SEC, which can be accessed through this link. Also, CEO Anthony Noto bought 30,715 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $6.48 per share, for a total transaction of $199,033.20. Following the purchase, the chief executive officer now directly owns 8,121,844 shares in the company, valued at $52,629,549.12. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. ORG Partners LLC acquired a new stake in SoFi Technologies in the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its position in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. SOA Wealth Advisors LLC. raised its stake in shares of SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at $37,000. Institutional investors and hedge funds 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.