SoFi Technologies, Inc. (NASDAQ:SOFI) Receives $9.14 Consensus PT from Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.14.

SOFI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. BTIG Research started coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Barclays reduced their price objective 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.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Axxcess Wealth Management LLC bought a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $185,000. Wells Fargo & Company MN raised its position in SoFi Technologies by 20.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after purchasing an additional 493,707 shares in the last quarter. Miracle Mile Advisors LLC raised its position in SoFi Technologies by 3.7% during the second quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock valued at $558,000 after purchasing an additional 3,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $38,595,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

SOFI stock opened at $7.26 on Friday. The company has a 50 day moving average price of $7.10 and a 200 day moving average price of $7.22. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The stock has a market capitalization of $7.68 billion, a PE ratio of -23.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $598.60 million during 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 firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Analysts forecast that SoFi Technologies will post 0.1 EPS for the current year.

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.