SoFi Technologies (NASDAQ:SOFI) Shares Up 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 0.1% on Thursday . The stock traded as high as $7.64 and last traded at $7.49. Approximately 6,908,107 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 45,832,586 shares. The stock had previously closed at $7.48.

Analyst Upgrades and Downgrades

SOFI has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Barclays reduced their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Finally, BTIG Research started coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Performance

The firm has a fifty day simple moving average of $7.11 and a 200-day simple moving average of $7.21. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of -22.61, a P/E/G ratio of 1.62 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same period in the prior year, the company posted ($0.06) EPS. The company’s revenue was up 20.2% compared to the same quarter last year. Analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CEO Anthony Noto purchased 30,715 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $6.48 per share, with a total value of $199,033.20. Following the purchase, the chief executive officer now directly owns 8,121,844 shares in the company, valued at approximately $52,629,549.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Anthony Noto bought 30,715 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $6.48 per share, for a total transaction of $199,033.20. Following the transaction, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at $52,629,549.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,921,285 shares of company stock valued at $135,057,462. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the period. SOA Wealth Advisors LLC. raised its stake in shares of SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares during the period. GAMMA Investing LLC boosted its position in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in SoFi Technologies in the 1st quarter valued at approximately $37,000. 38.43% of the stock is currently owned by institutional investors.

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.