SoFi Technologies (NASDAQ:SOFI) Trading Up 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 0.1% during mid-day trading on Friday . The stock traded as high as $7.24 and last traded at $7.00. 23,220,771 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 53,927,355 shares. The stock had previously closed at $6.99.

Wall Street Analyst Weigh In

Several research firms have weighed in on SOFI. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Tuesday. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price target for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday. Jefferies Financial Group dropped their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Finally, Mizuho decreased their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The company has a market cap of $6.80 billion, a PE ratio of -22.58 and a beta of 1.75. The company’s 50 day moving average price is $7.53 and its 200-day moving average price is $7.86.

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, topping analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The business had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. During the same period last year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after purchasing an additional 2,567,797 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in SoFi Technologies by 102.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock valued at $3,962,000 after acquiring an additional 250,854 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in SoFi Technologies by 202.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock worth $120,000 after acquiring an additional 10,013 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its stake in SoFi Technologies by 18.0% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after purchasing an additional 59,412 shares in the last quarter. Finally, Hartline Investment Corp boosted its holdings in SoFi Technologies by 3.4% in the 3rd quarter. Hartline Investment Corp now owns 865,756 shares of the company’s stock valued at $6,917,000 after purchasing an additional 28,115 shares during the period. 38.43% of the stock is owned by institutional investors.

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.