SoFi Technologies (NASDAQ:SOFI) Trading Up 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 0.3% on Thursday . The stock 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 Upgrades and Downgrades

Several equities analysts recently commented on SOFI shares. Citigroup began coverage on shares of SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on 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 reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, BTIG Research assumed coverage on shares of SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.32.

SoFi Technologies Stock Performance

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 stock has a market cap of $6.89 billion, a PE ratio of -20.90, a P/E/G ratio of 1.49 and a beta of 1.72. The business’s 50-day moving average price is $6.96 and its 200-day moving average price is $7.72.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The business’s quarterly revenue was up 26.2% on a year-over-year basis. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Noto purchased 28,900 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the transaction, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The disclosure for this purchase can be found here. Insiders have purchased a total of 88,390 shares of company stock worth $597,569 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of SoFi Technologies in the first quarter worth about $316,000. Soltis Investment Advisors LLC boosted its position in SoFi Technologies by 16.5% during the first quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the company’s stock worth $295,000 after purchasing an additional 5,713 shares in the last quarter. Cetera Advisors LLC grew its holdings in SoFi Technologies by 311.9% in the first quarter. Cetera Advisors LLC now owns 478,212 shares of the company’s stock valued at $3,491,000 after purchasing an additional 362,114 shares during the period. Cetera Investment Advisers increased its position in shares of SoFi Technologies by 905.2% in the first quarter. Cetera Investment Advisers now owns 779,982 shares of the company’s stock valued at $5,694,000 after buying an additional 702,385 shares in the last quarter. Finally, Burney Co. acquired a new position in shares of SoFi Technologies during the 1st quarter worth approximately $1,324,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.