SoFi Technologies (NASDAQ:SOFI) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of SoFi Technologies (NASDAQ:SOFI) in a report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $10.00 price target on the stock.

A number of other research analysts have also recently issued reports on SOFI. Wedbush reissued an underperform rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Keefe, Bruyette & Woods raised SoFi Technologies from an underperform rating to a market perform rating and lifted their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. BTIG Research began coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a neutral rating for the company. Jefferies Financial Group decreased their target price on SoFi Technologies from $15.00 to $12.00 and set a buy rating for the company in a research report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on SoFi Technologies from $12.00 to $11.00 and set a hold rating for the company in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $9.32.

SoFi Technologies Trading Up 0.3 %

Shares of SoFi Technologies stock opened at $6.45 on Tuesday. The company has a market cap of $6.82 billion, a price-to-earnings ratio of -20.81, a PEG ratio of 1.53 and a beta of 1.70. SoFi Technologies has a 1 year low of $6.20 and a 1 year high of $11.70. The company’s fifty day simple moving average is $6.90 and its 200-day simple moving average is $7.65. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. SoFi Technologies’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period last year, the business earned ($0.05) earnings per share. As a group, sell-side analysts expect that SoFi Technologies will post 0.08 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, CEO Anthony Noto acquired 28,775 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SoFi Technologies news, CEO Anthony Noto bought 28,775 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the acquisition, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Qatar Investment Authority sold 19,840,073 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. Insiders have purchased a total of 88,390 shares of company stock worth $597,569 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently modified their holdings of SOFI. FMR LLC grew its holdings in shares of SoFi Technologies by 14,136.9% during the 3rd quarter. FMR LLC now owns 2,317,905 shares of the company’s stock worth $18,520,000 after purchasing an additional 2,301,624 shares in the last quarter. Invesco Ltd. raised its position in SoFi Technologies by 10.2% in the third quarter. Invesco Ltd. now owns 808,635 shares of the company’s stock valued at $6,461,000 after purchasing an additional 74,621 shares during the last quarter. LPL Financial LLC raised its position in SoFi Technologies by 4.9% in the third quarter. LPL Financial LLC now owns 904,061 shares of the company’s stock valued at $7,223,000 after purchasing an additional 42,419 shares during the last quarter. Northern Trust Corp raised its position in SoFi Technologies by 15.4% in the third quarter. Northern Trust Corp now owns 4,371,786 shares of the company’s stock valued at $34,931,000 after purchasing an additional 584,335 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of SoFi Technologies by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 402,879 shares of the company’s stock valued at $3,219,000 after buying an additional 2,040 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

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.