SoFi Technologies (NASDAQ:SOFI) Trading Up 1.5%

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 1.5% on Tuesday . The stock traded as high as $8.27 and last traded at $8.18. Approximately 11,205,949 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 45,745,145 shares. The stock had previously closed at $8.06.

Wall Street Analyst Weigh In

Several analysts have weighed in on SOFI shares. BTIG Research initiated coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays decreased their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods dropped 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 research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.14.

SoFi Technologies Stock Up 1.0 %

The stock has a market cap of $8.61 billion, a PE ratio of -26.39, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $7.23 and a 200 day moving average of $7.14.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) earnings per share. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s 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 completion of the transaction, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after buying an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in SoFi Technologies by 6.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after acquiring an additional 690,638 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of SoFi Technologies by 176.3% in 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 purchasing an additional 6,870,610 shares during the last quarter. Finally, Norges Bank bought a new position in shares of SoFi Technologies in the fourth quarter worth about $71,349,000. 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.