SoFi Technologies (NASDAQ:SOFI) Shares Down 0.8%

SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 0.8% during trading on Monday . The company traded as low as $6.55 and last traded at $6.56. Approximately 4,935,966 shares traded hands during trading, a decline of 90% from the average daily volume of 47,637,660 shares. The stock had previously closed at $6.61.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research analyst reports. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price objective on the stock. Jefferies Financial Group dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. BTIG Research began coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.32.

SoFi Technologies Stock Performance

The firm’s fifty day moving average is $6.94 and its 200 day moving average is $7.70. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of -21.16, a PEG ratio of 1.53 and a beta of 1.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The company had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. During the same quarter last year, the business posted ($0.05) EPS. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related 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 transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm’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 transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony Noto purchased 28,900 shares of SoFi Technologies stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $6.92 per share, with a total value of $199,988.00. Following the transaction, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The disclosure for this purchase can be found here. Insiders have bought 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in SOFI. GAMMA Investing LLC acquired a new position in SoFi Technologies in the fourth quarter worth about $27,000. ORG Partners LLC bought a new stake in shares of SoFi Technologies in the 1st quarter valued at approximately $27,000. Westside Investment Management Inc. raised its holdings in shares of SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares in the last quarter. 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 worth $33,000 after buying an additional 1,713 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in SoFi Technologies in the 1st 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.