SoFi Technologies (NASDAQ:SOFI) Shares Up 0.2% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 0.2% during trading on Thursday . The company traded as high as $8.76 and last traded at $8.61. Approximately 12,153,795 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 45,170,301 shares. The stock had previously closed at $8.59.

Analyst Ratings Changes

Several analysts have recently issued reports on SOFI shares. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays reduced their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Trading Up 1.3 %

The stock has a market capitalization of $9.20 billion, a P/E ratio of -27.77, a PEG ratio of 1.60 and a beta of 1.70. The stock’s fifty day moving average price is $7.48 and its 200 day moving average price is $7.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Kelli Keough sold 24,939 shares of the business’s 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 transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,328 shares of company stock valued at $808,246 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. Watts Gwilliam & Co. LLC acquired a new stake in SoFi Technologies in the third quarter valued at approximately $128,000. LifePro Asset Management acquired a new stake in shares of SoFi Technologies in the 3rd quarter worth $2,450,000. Wedmont Private Capital acquired a new stake in shares of SoFi Technologies in the 3rd quarter worth $123,000. CWM LLC grew its stake in SoFi Technologies by 93.0% during the 3rd quarter. CWM LLC now owns 98,956 shares of the company’s stock worth $778,000 after buying an additional 47,672 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies during the 3rd quarter valued at about $119,000. 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.