William Blair Reaffirms Outperform Rating for SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “outperform” rating reaffirmed by investment analysts at William Blair in a report issued on Friday,RTT News reports.

SOFI has been the subject of a number of other reports. Mizuho raised their price target 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. Morgan Stanley upped their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup raised their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $11.71.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $17.92 on Friday. The firm’s 50-day simple moving average is $15.71 and its 200 day simple moving average is $11.05. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $18.42. The firm has a market cap of $19.45 billion, a price-to-earnings ratio of 179.22, 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 announced its quarterly earnings data 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. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, sell-side analysts predict that SoFi Technologies will post 0.12 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the sale, the director now directly owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the third quarter valued at approximately $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies in the third quarter worth $28,000. FNY Investment Advisers LLC lifted its holdings in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the period. Waldron Private Wealth LLC purchased a new position in SoFi Technologies in the third quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $47,000. 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.