SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been assigned an average recommendation of “Reduce” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $11.13.

Several equities research analysts have commented on the stock. Mizuho upped their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd.

SoFi Technologies Stock Up 5.0 %

Shares of SOFI stock opened at $14.84 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. The firm has a market capitalization of $16.10 billion, a PE ratio of 148.41, a P/E/G ratio of 2.70 and a beta of 1.77. The stock’s 50-day simple moving average is $14.59 and its 200-day simple moving average is $10.04.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. Equities analysts expect that SoFi Technologies will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

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

About SoFi Technologies

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.