SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.5%

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 2.5% during trading on Tuesday . The company traded as high as $7.51 and last traded at $7.51. Approximately 14,806,442 shares traded hands during trading, a decline of 68% from the average daily volume of 46,629,766 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

SOFI has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Barclays decreased their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday, July 2nd. Citigroup assumed coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, April 30th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.29.

SoFi Technologies Price Performance

The firm’s 50-day moving average is $6.83 and its two-hundred day moving average is $7.44. The company has a market cap of $7.96 billion, a P/E ratio of -24.35, a PEG ratio of 1.83 and a beta of 1.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $580.60 million for 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%. SoFi Technologies’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders bought 88,390 shares of company stock valued at $597,569 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after purchasing an additional 1,366,271 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after acquiring an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after acquiring an additional 6,870,610 shares during the period. Norges Bank purchased a new stake in SoFi Technologies in the fourth quarter worth about $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in SoFi Technologies by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock worth $54,659,000 after acquiring an additional 199,949 shares during the period. 38.43% of the stock is owned by hedge funds and other 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.