SoFi Technologies (NASDAQ:SOFI) Shares Up 1%

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 1% on Friday . The stock traded as high as $7.24 and last traded at $7.20. 8,589,660 shares were traded during trading, a decline of 84% from the average session volume of 52,592,977 shares. The stock had previously closed at $7.13.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on SoFi Technologies in a research report on Wednesday, January 10th. They issued a “hold” rating and a $11.00 price target for the company. The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Jefferies Financial Group lowered their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research note on Wednesday, March 6th. Finally, Needham & Company LLC initiated coverage on SoFi Technologies in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Trading Up 1.5 %

The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of -18.95 and a beta of 1.75. The company has a 50 day moving average of $7.74 and a 200 day moving average of $7.91. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (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 period last year, the company earned ($0.05) EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SOFI. Moneta Group Investment Advisors LLC acquired a new position in SoFi Technologies during the fourth quarter worth $83,643,000. Norges Bank acquired a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $44,799,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the last quarter. State Street Corp boosted its position in SoFi Technologies by 76.6% during the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock worth $61,590,000 after purchasing an additional 5,068,034 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after buying an additional 5,057,233 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.