SoFi Technologies (NASDAQ:SOFI) Shares Up 1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 1% on Wednesday . The company traded as high as $8.24 and last traded at $8.20. 6,806,653 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 45,739,188 shares. The stock had previously closed at $8.12.

Analyst Ratings Changes

A number of brokerages have weighed in on SOFI. BTIG Research began coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Barclays dropped their price target on 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. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Performance

The company has a 50-day moving average price of $7.29 and a two-hundred day moving average price of $7.14. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $8.66 billion, a P/E ratio of -26.42, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $598.60 million during 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 quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was 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 directly owns 114,407 shares in the company, valued at approximately $830,594.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. ORG Partners LLC acquired a new position in SoFi Technologies during the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth approximately $37,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.