SoFi Technologies (NASDAQ:SOFI) Trading 4% Higher

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 4% during mid-day trading on Friday . The company traded as high as $8.09 and last traded at $8.07. Approximately 14,452,384 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 45,624,527 shares. The stock had previously closed at $7.76.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. BTIG Research began coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods cut their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, Barclays decreased their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.14.

SoFi Technologies Trading Up 2.4 %

The business has a 50 day simple moving average of $7.37 and a 200-day simple moving average of $7.16. 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 stock has a market capitalization of $8.40 billion, a P/E ratio of -25.65, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On SoFi Technologies

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

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.