SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 1% on Friday . The company traded as high as $7.08 and last traded at $6.98. 9,462,940 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 46,205,254 shares. The stock had previously closed at $6.91.

Analysts Set New Price Targets

Several equities analysts have commented on SOFI shares. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. 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. Deutsche Bank Aktiengesellschaft decreased their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. BTIG Research initiated coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods dropped their price objective on 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.20.

SoFi Technologies Trading Up 1.3 %

The firm’s fifty day moving average is $6.83 and its two-hundred day moving average is $7.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The firm has a market capitalization of $7.40 billion, a PE ratio of -22.61, a PEG ratio of 1.45 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated 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 sale, 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 document filed with the SEC, which is accessible through the SEC website. In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of SoFi Technologies stock in a transaction dated Thursday, May 23rd. The shares were purchased 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated 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 directly owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in SoFi Technologies by 241.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock worth $38,772,000 after purchasing an additional 2,755,197 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of SoFi Technologies by 34.9% during the fourth quarter. Vontobel Holding Ltd. now owns 306,019 shares of the company’s stock valued at $3,045,000 after buying an additional 79,104 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SoFi Technologies by 10.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 194,835 shares of the company’s stock worth $1,939,000 after acquiring an additional 17,865 shares during the last quarter. KLCM Advisors Inc. bought a new position in SoFi Technologies in the 4th quarter valued at approximately $244,000. Finally, Daiwa Securities Group Inc. purchased a new stake in SoFi Technologies during the 4th quarter valued at $103,000. 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.