SoFi Technologies (NASDAQ:SOFI) Trading Up 1%

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1% during trading on Thursday . The company traded as high as $7.47 and last traded at $7.43. Approximately 6,361,789 shares traded hands during trading, a decline of 89% from the average daily volume of 56,064,930 shares. The stock had previously closed at $7.36.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of recent research reports. Mizuho dropped their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $6.50 price objective (down previously from $7.50) on shares of SoFi Technologies in a report on Wednesday, January 3rd. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Morgan Stanley reissued an “underweight” rating and set a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Finally, Jefferies Financial Group dropped their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $8.97.

SoFi Technologies Stock Down 0.8 %

The stock has a 50-day moving average of $7.89 and a two-hundred day moving average of $8.01. The company has a market cap of $7.13 billion, a P/E ratio of -19.55 and a beta of 1.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The firm had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s revenue was up 34.7% on a year-over-year basis. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in SoFi Technologies by 3.5% in the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after purchasing an additional 2,567,797 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in SoFi Technologies by 102.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after purchasing an additional 250,854 shares during the period. Exchange Traded Concepts LLC grew its stake in SoFi Technologies by 202.3% in the third quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock worth $120,000 after purchasing an additional 10,013 shares during the period. Dynamic Advisor Solutions LLC grew its stake in SoFi Technologies by 24.9% in the third quarter. Dynamic Advisor Solutions LLC now owns 22,542 shares of the company’s stock worth $180,000 after purchasing an additional 4,491 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. grew its stake in SoFi Technologies by 18.0% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after purchasing an additional 59,412 shares during the period. Institutional investors 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.