SoFi Technologies (NASDAQ:SOFI) Trading Up 1.5%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price rose 1.5% on Tuesday . The company traded as high as $8.27 and last traded at $8.18. Approximately 11,205,949 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 45,745,145 shares. The stock had previously closed at $8.06.

Wall Street Analyst Weigh In

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

SoFi Technologies Stock Down 0.1 %

The stock’s 50-day moving average price is $7.29 and its two-hundred day moving average price is $7.14. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $8.57 billion, a P/E ratio of -26.16, a P/E/G ratio of 1.48 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly 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 SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of SoFi Technologies by 2.3% in the fourth 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 boosted its holdings in SoFi Technologies by 0.4% in the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,508 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. SOA Wealth Advisors LLC. grew its position in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.