SoFi Technologies (NASDAQ:SOFI) Shares Up 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 0.3% on Thursday . The company traded as high as $6.50 and last traded at $6.48. Approximately 5,583,508 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 48,015,832 shares. The stock had previously closed at $6.46.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush reiterated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Jefferies Financial Group lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. BTIG Research started coverage on shares of SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.32.

SoFi Technologies Price Performance

The firm has a market cap of $6.99 billion, a PE ratio of -21.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.72. The stock has a 50 day simple moving average of $6.94 and a two-hundred day simple moving average of $7.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93.

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, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. During the same period last year, the business earned ($0.05) earnings per share. SoFi Technologies’s quarterly revenue was up 26.2% on a year-over-year basis. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto purchased 28,900 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the transaction, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SoFi Technologies news, CEO Anthony Noto acquired 28,900 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $6.92 per share, with a total value of $199,988.00. Following the completion of the acquisition, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders bought a total of 88,390 shares of company stock worth $597,569 in the last three months. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wedmont Private Capital raised its holdings in SoFi Technologies by 13.2% in the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock valued at $120,000 after acquiring an additional 1,411 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of SoFi Technologies by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after purchasing an additional 1,498 shares during the last quarter. Westside Investment Management Inc. lifted its position in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in SoFi Technologies by 0.4% during the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock worth $3,751,000 after buying an additional 1,508 shares during the last quarter. Finally, River Street Advisors LLC boosted its stake in SoFi Technologies by 4.5% during the fourth quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock worth $352,000 after buying an additional 1,526 shares during the last quarter. 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.