SoFi Technologies (NASDAQ:SOFI) Trading Up 2.2%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 2.2% on Thursday . The stock traded as high as $7.32 and last traded at $7.32. Approximately 9,989,822 shares were traded during trading, a decline of 81% from the average daily volume of 52,839,852 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SOFI shares. Wedbush restated an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a report on Wednesday, March 6th. Mizuho reduced their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Citigroup started coverage on SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on SoFi Technologies in a report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Performance

The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $7.76 and a 200-day simple moving average of $7.91. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of -19.26 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 29th. The company reported $0.02 EPS for the quarter. The firm had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in SoFi Technologies during the fourth quarter worth $27,000. US Bancorp DE grew its holdings in SoFi Technologies by 197.0% during the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after buying an additional 2,000 shares in the last quarter. Westside Investment Management Inc. grew its stake in SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. bought a new position in SoFi Technologies in the 1st quarter valued at $36,000. Finally, Tortoise Investment Management LLC bought a new position in SoFi Technologies in the 4th quarter valued at $39,000. 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.