SoFi Technologies (NASDAQ:SOFI) Shares Down 1.2%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded down 1.2% on Monday . The company traded as low as $7.93 and last traded at $7.95. 10,617,202 shares were traded during mid-day trading, a decline of 77% from the average session volume of 45,878,691 shares. The stock had previously closed at $8.05.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays reduced their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. BTIG Research started coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Price Performance

The stock has a 50-day simple moving average of $7.34 and a 200 day simple moving average of $7.15. The company has a market cap of $8.45 billion, a PE ratio of -25.65, a P/E/G ratio of 1.48 and a beta of 1.70. 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 quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. SoFi Technologies’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. Equities analysts expect that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The stock was 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 of the company’s stock, valued at $830,594.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of SoFi Technologies during the second quarter worth $731,000. EP Wealth Advisors LLC increased its holdings in SoFi Technologies by 1.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 382,844 shares of the company’s stock worth $2,531,000 after purchasing an additional 6,122 shares during the period. Quarry LP acquired a new stake in SoFi Technologies in the 2nd quarter valued at about $84,000. Second Line Capital LLC boosted its stake in shares of SoFi Technologies by 1.3% in the 2nd quarter. Second Line Capital LLC now owns 244,446 shares of the company’s stock valued at $1,616,000 after buying an additional 3,200 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of SoFi Technologies by 64.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after buying an additional 115,316 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other 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.