SoFi Technologies (NASDAQ:SOFI) Given Underperform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their underperform rating on shares of SoFi Technologies (NASDAQ:SOFI) in a report released on Thursday morning, MarketBeat.com reports. The brokerage currently has a $8.00 price target on the stock, up from their previous price target of $7.00.

Several other analysts also recently issued reports on SOFI. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho boosted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.13.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $14.13 on Thursday. The stock has a market capitalization of $15.33 billion, a P/E ratio of 141.31, a PEG ratio of 2.70 and a beta of 1.77. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $17.19. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $14.52 and its 200 day moving average price is $9.98.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, research analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock valued at $416,889,795 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its stake in SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its holdings in shares of SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the last quarter. 38.43% of the stock is currently owned by 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.