SoFi Technologies (NASDAQ:SOFI) Trading Up 1.5%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 1.5% on Tuesday . The stock traded as high as $8.27 and last traded at $8.18. 11,205,949 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 45,745,145 shares. The stock had previously closed at $8.06.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SOFI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. BTIG Research began coverage on shares of SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods reduced their target price on shares of 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. Finally, Barclays cut their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.14.

SoFi Technologies Trading Up 1.0 %

The business’s 50-day moving average is $7.23 and its two-hundred day moving average is $7.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The firm has a market cap of $8.61 billion, a P/E ratio of -26.39, a P/E/G ratio of 1.48 and a beta of 1.70.

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. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. SoFi Technologies’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Trading of SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. ORG Partners LLC acquired a new stake in SoFi Technologies in the first quarter worth $27,000. Allspring Global Investments Holdings LLC raised its stake in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in SoFi Technologies by 61.2% during the first 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 last quarter. GAMMA Investing LLC grew its stake in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth $37,000. Institutional investors 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.