SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $15.40, but opened at $15.00. SoFi Technologies shares last traded at $14.86, with a volume of 22,730,920 shares.
Analyst Upgrades and Downgrades
SOFI has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.13.
SoFi Technologies Price Performance
The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The business’s fifty day simple moving average is $14.45 and its 200 day simple moving average is $9.95. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 141.31, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The company’s revenue was up 29.8% compared to the same quarter last year. Research analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.
Insider Activity
In other news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This trade represents a 197.36 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC boosted its holdings in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after acquiring an additional 358,806 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares during the period. Marshall Wace LLP raised its holdings in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the period. Institutional investors 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.