Analysts Set SoFi Technologies, Inc. (NASDAQ:SOFI) PT at $11.13

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have received a consensus recommendation of “Reduce” from the thirteen ratings firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.13.

Several brokerages have issued reports on SOFI. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th.

SoFi Technologies Stock Up 3.0 %

Shares of NASDAQ SOFI opened at $15.29 on Friday. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $17.19. The stock has a market capitalization of $16.59 billion, a PE ratio of 152.92, a P/E/G ratio of 2.70 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $14.67 and a 200-day moving average of $10.15.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the business posted ($0.03) EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, analysts anticipate that SoFi Technologies will post 0.12 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Several hedge funds have recently added to or reduced their stakes in SOFI. Dimensional Fund Advisors LP raised its stake in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $16,014,000. Finally, Hsbc Holdings PLC increased its stake in SoFi Technologies by 337.6% in the 2nd quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock worth $4,715,000 after purchasing an additional 554,866 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

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.