SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) traded up 1.8% on Wednesday . The stock traded as high as $7.82 and last traded at $7.77. 8,045,485 shares were traded during trading, a decline of 82% from the average session volume of 45,377,734 shares. The stock had previously closed at $7.63.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on SOFI shares. Keefe, Bruyette & Woods reduced their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays cut their target price on shares of 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 initiated coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target of $9.14.
SoFi Technologies Stock Performance
The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $7.38 and a 200 day moving average price of $7.17. The stock has a market cap of $8.18 billion, a P/E ratio of -25.06, a PEG ratio of 1.60 and a beta of 1.70.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.1 EPS for the current year.
Insiders Place Their Bets
In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The disclosure for this sale can be found here. Insiders have sold 102,328 shares of company stock worth $808,246 in the last three months. Corporate insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On SoFi Technologies
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its stake in SoFi Technologies by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $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% in the fourth 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of SoFi Technologies by 55.3% in 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 during the last quarter. SOA Wealth Advisors LLC. increased its position in shares of SoFi Technologies by 61.2% during 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares during 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.