SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 0.3% on Wednesday . The stock traded as high as $7.12 and last traded at $7.10. 8,191,667 shares were traded during trading, a decline of 84% from the average session volume of 51,707,117 shares. The stock had previously closed at $7.08.

Analyst Upgrades and Downgrades

SOFI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Jefferies Financial Group dropped their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Finally, Citigroup initiated coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The company has a fifty day moving average price of $7.25 and a two-hundred day moving average price of $7.81. The company has a market cap of $7.34 billion, a P/E ratio of -22.45, a PEG ratio of 1.63 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, CEO Anthony Noto bought 28,900 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the transaction, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Anthony Noto bought 28,900 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the acquisition, the chief executive officer now 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 is available at the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently made changes to their positions in the stock. Wedmont Private Capital boosted its holdings in shares of SoFi Technologies by 13.2% during the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock valued at $120,000 after buying an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in SoFi Technologies by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company’s stock worth $1,536,000 after acquiring an additional 1,413 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in SoFi Technologies by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after purchasing an additional 1,498 shares during the period. Westside Investment Management Inc. increased its stake in shares of SoFi Technologies by 93.8% during the fourth 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 in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in shares of SoFi Technologies by 0.4% during the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,508 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.