SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.9%

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 0.9% during mid-day trading on Wednesday . The company traded as high as $6.55 and last traded at $6.51. Approximately 8,025,004 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 47,360,844 shares. The stock had previously closed at $6.45.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday. Jefferies Financial Group cut their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft cut their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, BTIG Research assumed coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Stock Up 1.1 %

The firm has a market cap of $6.89 billion, a price-to-earnings ratio of -21.03, a P/E/G ratio of 1.51 and a beta of 1.70. The firm’s 50 day moving average price is $6.86 and its two-hundred day moving average price is $7.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, CEO Anthony Noto purchased 28,900 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average price of $6.92 per share, with a total value of $199,988.00. Following the purchase, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Anthony Noto purchased 28,900 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average price of $6.92 per share, with a total value of $199,988.00. Following the purchase, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Qatar Investment Authority sold 19,840,073 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. Insiders have bought 88,390 shares of company stock valued at $597,569 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in SoFi Technologies in the 4th quarter valued at $27,000. ORG Partners LLC acquired a new position in SoFi Technologies in the 1st quarter valued at $27,000. Westside Investment Management Inc. raised its holdings in SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies in the 1st quarter valued at $37,000. 38.43% of the stock is currently 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.