SoFi Technologies (NASDAQ:SOFI) Shares Up 2.7%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 2.7% during mid-day trading on Friday . The stock traded as high as $7.68 and last traded at $7.66. 7,617,224 shares were traded during mid-day trading, a decline of 83% from the average session volume of 45,733,492 shares. The stock had previously closed at $7.46.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Barclays decreased their price target on 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. Keefe, Bruyette & Woods dropped their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, BTIG Research started coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.14.

SoFi Technologies Trading Up 3.8 %

The company has a market cap of $8.25 billion, a P/E ratio of -24.97, a P/E/G ratio of 1.48 and a beta of 1.70. The business has a 50-day moving average price of $7.19 and a two-hundred day moving average price of $7.16. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 30th. The company reported $0.01 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 2.25%. The firm had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis. On average, analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’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 of the company’s stock, valued at $830,594.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the company’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 completion of the transaction, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies 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 directly owns 114,407 shares in the company, valued at approximately $830,594.82. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOFI. Victory Capital Management Inc. boosted its position in SoFi Technologies by 24.4% during the 4th quarter. Victory Capital Management Inc. now owns 119,488 shares of the company’s stock worth $1,189,000 after acquiring an additional 23,436 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of SoFi Technologies in the fourth quarter worth $38,595,000. Avantax Advisory Services Inc. boosted its holdings in SoFi Technologies by 22.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 81,758 shares of the company’s stock worth $813,000 after purchasing an additional 14,929 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SoFi Technologies by 2,173.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 347,405 shares of the company’s stock valued at $3,457,000 after purchasing an additional 332,124 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in SoFi Technologies by 10.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 52,821 shares of the company’s stock valued at $526,000 after buying an additional 5,164 shares during the last quarter. 38.43% of the stock is currently 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.