SoFi Technologies (NASDAQ:SOFI) Shares Up 1%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price rose 1% on Wednesday . The company traded as high as $8.24 and last traded at $8.20. Approximately 6,806,653 shares changed hands during trading, a decline of 85% from the average daily volume of 45,739,188 shares. The stock had previously closed at $8.12.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. BTIG Research started coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Barclays decreased their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Down 0.4 %

The company has a market capitalization of $8.55 billion, a P/E ratio of -26.45, a P/E/G ratio of 1.48 and a beta of 1.70. The business’s fifty day moving average price is $7.26 and its 200 day moving average price is $7.14. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were 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 owns 114,407 shares of the company’s stock, valued at $830,594.82. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP bought a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $38,595,000. Avantax Advisory Services Inc. lifted its holdings in shares of SoFi Technologies by 22.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 81,758 shares of the company’s stock valued at $813,000 after purchasing an additional 14,929 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of SoFi Technologies by 2,173.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 347,405 shares of the company’s stock worth $3,457,000 after buying an additional 332,124 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of SoFi Technologies by 10.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 52,821 shares of the company’s stock worth $526,000 after buying an additional 5,164 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in SoFi Technologies by 32.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 113,040 shares of the company’s stock valued at $1,125,000 after acquiring an additional 27,750 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.