SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.7%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 2.7% during trading on Monday . The company traded as high as $7.79 and last traded at $7.72. 10,365,849 shares traded hands during trading, a decline of 77% from the average session volume of 46,000,395 shares. The stock had previously closed at $7.52.

Analysts Set New Price Targets

A number of brokerages recently commented on SOFI. BTIG Research began coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. 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 research note on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Wedbush reissued an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.14.

SoFi Technologies Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of -24.16, a PEG ratio of 1.45 and a beta of 1.70. The firm has a 50-day moving average price of $6.93 and a two-hundred day moving average price of $7.24.

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 company had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. SoFi Technologies’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Anthony Noto bought 30,715 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $6.48 per share, for a total transaction of $199,033.20. Following the completion of the acquisition, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at approximately $52,629,549.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 24,939 shares of the company’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 sale, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. The disclosure for this sale can be found here. Insiders sold 19,921,285 shares of company stock valued at $135,057,462 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SOFI. GAMMA Investing LLC bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $27,000. ORG Partners LLC bought a new stake in SoFi Technologies in the first quarter valued at approximately $27,000. Tortoise Investment Management LLC bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $39,000. Vermillion & White Wealth Management Group LLC bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $40,000. Finally, Allspring Global Investments Holdings LLC raised its stake in 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 buying an additional 1,543 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.