SoFi Technologies (NASDAQ:SOFI) Shares Up 1.1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.1% during trading on Tuesday . The company traded as high as $6.63 and last traded at $6.55. Approximately 6,292,254 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 46,548,664 shares. The stock had previously closed at $6.48.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods reduced their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, BTIG Research began coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.20.

SoFi Technologies Price Performance

The company has a 50 day moving average price of $6.84 and a 200-day moving average price of $7.30. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -21.23, a P/E/G ratio of 1.45 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.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The business had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same period last year, the company earned ($0.06) EPS. SoFi Technologies’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto purchased 28,900 shares of the stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the acquisition, 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 can be accessed through this link. In other news, CEO Anthony Noto acquired 28,900 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies 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 transaction, 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. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC boosted its holdings in shares of SoFi Technologies by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after buying an additional 1,498 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after acquiring an additional 1,508 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in SoFi Technologies by 4.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 45,963 shares of the company’s stock valued at $457,000 after purchasing an additional 1,974 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.