SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.1%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price rose 1.1% on Tuesday . The stock traded as high as $6.62 and last traded at $6.61. Approximately 11,640,552 shares were traded during trading, a decline of 75% from the average daily volume of 47,157,695 shares. The stock had previously closed at $6.54.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SOFI. BTIG Research initiated coverage on shares of SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating for the company. Barclays lowered their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Citigroup began coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.20.

SoFi Technologies Stock Down 1.7 %

The company has a market cap of $6.80 billion, a price-to-earnings ratio of -21.32, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $6.87 and its 200-day moving average price is $7.34.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. The company had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The firm’s revenue was up 20.2% on a year-over-year basis. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Activity

In related news, CEO Anthony Noto acquired 28,900 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $6.92 per share, with a total value of $199,988.00. Following the transaction, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Noto acquired 28,900 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the transaction, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its position in SoFi Technologies by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after buying an additional 1,498 shares in the last quarter. EP Wealth Advisors LLC lifted its position in SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock worth $3,751,000 after buying an additional 1,508 shares in the last quarter. River Street Advisors LLC lifted its position in SoFi Technologies by 4.5% during the 4th quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock worth $352,000 after buying an additional 1,526 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares in the last quarter. Finally, SOA Wealth Advisors LLC. lifted its position in SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

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.