SoFi Technologies’ (SOFI) Outperform Rating Reiterated at William Blair

William Blair restated their outperform rating on shares of SoFi Technologies (NASDAQ:SOFI) in a research note released on Friday morning,RTT News reports.

Other equities analysts have also issued reports about the stock. Citigroup boosted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC raised their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Trading Down 0.6 %

SOFI stock opened at $17.92 on Friday. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $15.71 and its 200-day moving average is $11.08. The firm has a market cap of $19.45 billion, a P/E ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. Equities analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % 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 company’s stock in a transaction dated Wednesday, December 4th. The shares were 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 sold a total of 26,008,870 shares of company stock valued at $416,950,073 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC increased its position in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after buying an additional 358,806 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares during the period. Azora Capital LP lifted its holdings in SoFi Technologies by 8.8% during the third quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after acquiring an additional 352,901 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in SoFi Technologies by 214.9% in 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 acquiring an additional 2,688,847 shares during the period. Institutional investors 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.