SoFi Technologies (NASDAQ:SOFI) Trading 0.9% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 0.9% during mid-day trading on Wednesday . The stock traded as high as $6.55 and last traded at $6.51. Approximately 8,025,004 shares changed hands during trading, a decline of 83% from the average daily volume of 47,360,844 shares. The stock had previously closed at $6.45.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SOFI shares. Jefferies Financial Group cut their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. BTIG Research initiated coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Stock Up 0.3 %

The firm has a market cap of $6.84 billion, a price-to-earnings ratio of -21.00, a PEG ratio of 1.53 and a beta of 1.70. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $6.90 and a 200-day moving average price of $7.65.

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

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $6.92 per share, with a total value of $199,988.00. Following the transaction, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other SoFi Technologies news, CEO Anthony Noto acquired 28,900 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the purchase, the chief executive officer now directly owns 8,062,269 shares in the company, valued at $55,790,901.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders bought 88,390 shares of company stock worth $597,569 over the last three months. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after acquiring an additional 2,567,797 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of SoFi Technologies by 20.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock worth $28,398,000 after purchasing an additional 493,707 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of SoFi Technologies in the fourth quarter valued at $38,595,000. Level Four Advisory Services LLC boosted its stake in shares of SoFi Technologies by 40.1% in the fourth quarter. Level Four Advisory Services LLC now owns 28,064 shares of the company’s stock valued at $279,000 after purchasing an additional 8,039 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in SoFi Technologies by 384.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 142,534 shares of the company’s stock valued at $1,418,000 after purchasing an additional 113,100 shares in the last quarter. Hedge funds and other 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.