SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Average Rating of “Hold” from Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has been assigned an average recommendation of “Hold” from the fifteen research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.50.

Several research firms recently weighed in on SOFI. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Needham & Company LLC boosted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Citigroup boosted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th.

Insider Activity

In related news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in shares of SoFi Technologies by 8.8% during the 2nd quarter. Sei Investments Co. now owns 38,976 shares of the company’s stock worth $258,000 after buying an additional 3,139 shares during the period. Xponance Inc. grew its holdings in SoFi Technologies by 53.0% during the 2nd quarter. Xponance Inc. now owns 52,795 shares of the company’s stock worth $349,000 after acquiring an additional 18,285 shares during the period. AQR Capital Management LLC grew its holdings in SoFi Technologies by 58.8% during the 2nd quarter. AQR Capital Management LLC now owns 115,186 shares of the company’s stock worth $756,000 after acquiring an additional 42,660 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of SoFi Technologies by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 263,826 shares of the company’s stock valued at $1,744,000 after purchasing an additional 30,206 shares during the period. Finally, Algert Global LLC boosted its position in shares of SoFi Technologies by 28.2% in the 2nd quarter. Algert Global LLC now owns 286,786 shares of the company’s stock worth $1,896,000 after purchasing an additional 63,076 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $16.17 on Wednesday. The stock has a 50-day simple moving average of $15.78 and a 200 day simple moving average of $11.22. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $18.42. The stock has a market capitalization of $17.55 billion, a PE ratio of 161.72, a P/E/G ratio of 1.19 and a beta of 1.78. 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 (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same quarter last year, the firm earned $0.04 earnings per share. Research analysts anticipate that SoFi Technologies will post 0.12 EPS for the current year.

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.