SoFi Technologies (NASDAQ:SOFI) Shares Up 0.9%

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

Wall Street Analyst Weigh In

SOFI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Citigroup assumed coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price target on the stock. Barclays cut their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Finally, BTIG Research assumed coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $9.29.

SoFi Technologies Price Performance

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

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company 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 firm’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of SoFi Technologies

A number of hedge funds have recently bought and sold shares of SOFI. Norges Bank purchased a new stake in shares of SoFi Technologies during the 4th quarter worth $71,349,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after buying an additional 6,870,610 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after buying an additional 6,870,610 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $38,595,000. Hedge funds and other institutional investors 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.