SoFi Technologies (NASDAQ:SOFI) Trading Down 1.2%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 1.2% during mid-day trading on Monday . The company traded as low as $7.93 and last traded at $7.95. Approximately 10,617,202 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 45,878,691 shares. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays dropped their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. BTIG Research initiated coverage on shares of SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. 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 given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.14.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The company has a market cap of $8.28 billion, a price-to-earnings ratio of -25.26, a PEG ratio of 1.60 and a beta of 1.70. The firm’s 50 day simple moving average is $7.36 and its 200-day simple moving average is $7.15.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,328 shares of company stock valued at $808,246. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC bought a new stake in SoFi Technologies in the first quarter valued at about $27,000. Tortoise Investment Management LLC bought a new stake in SoFi Technologies during the fourth quarter worth approximately $39,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of SoFi Technologies in the 4th quarter worth $40,000. Allspring Global Investments Holdings LLC raised its holdings in SoFi Technologies by 55.3% during 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 period. Finally, Jones Financial Companies Lllp acquired a new position in SoFi Technologies in the 4th quarter worth approximately $44,000. 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.