SoFi Technologies (NASDAQ:SOFI) Now Covered by William Blair

William Blair assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research note released on Wednesday, MarketBeat.com reports. The firm issued an outperform rating on the stock.

SOFI has been the topic of a number of other reports. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Mizuho upped 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, Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $11.71.

SoFi Technologies Trading Up 7.0 %

SOFI opened at $15.51 on Wednesday. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $17.19. The company has a market capitalization of $16.83 billion, a P/E ratio of 155.12, a PEG ratio of 0.96 and a beta of 1.78. The stock’s fifty day moving average is $15.08 and its two-hundred day moving average is $10.49. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. Analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current year.

Insider Activity

In related news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. This represents a 66.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Captrust Financial Advisors lifted its holdings in shares of SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares during the period. Summit Trail Advisors LLC raised its position in SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after buying an additional 855 shares during the last quarter. CIBC Asset Management Inc lifted its stake in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after acquiring an additional 962 shares during the period. Oak Harbor Wealth Partners LLC lifted its stake in SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in shares of SoFi Technologies by 8.0% in the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after acquiring an additional 1,000 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.