SoFi Technologies (NASDAQ:SOFI) Trading 2.5% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 2.5% on Thursday . The stock traded as high as $8.45 and last traded at $8.31. 20,242,603 shares were traded during trading, a decline of 56% from the average session volume of 45,885,516 shares. The stock had previously closed at $8.11.

Analyst Upgrades and Downgrades

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

SoFi Technologies Price Performance

The company has a 50-day moving average of $7.32 and a 200 day moving average of $7.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The firm has a market cap of $8.51 billion, a P/E ratio of -25.97, a P/E/G ratio of 1.48 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share (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 company had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. During the same period last year, the business earned ($0.06) earnings per share. The business’s revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts anticipate 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 that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of 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 document filed with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in SoFi Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after buying an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of SoFi Technologies by 6.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after purchasing an additional 690,638 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after purchasing an additional 6,870,610 shares in the last quarter. Finally, Norges Bank acquired a new position in SoFi Technologies during the 4th quarter worth $71,349,000. 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.