SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.2%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 2.2% during trading on Thursday . The stock traded as high as $7.32 and last traded at $7.32. 9,989,822 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 52,839,852 shares. The stock had previously closed at $7.16.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SOFI shares. Morgan Stanley restated an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Wedbush reissued an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Wednesday, March 6th. The Goldman Sachs Group upped their price target on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of SoFi Technologies in a research report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Trading Down 0.3 %

The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average price of $7.72 and a 200-day moving average price of $7.90.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. SoFi Technologies’s revenue was up 34.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the 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 directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SOFI. Vanguard Group Inc. grew its position in SoFi Technologies by 3.5% during the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after buying an additional 2,567,797 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in SoFi Technologies by 102.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock valued at $3,962,000 after purchasing an additional 250,854 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in SoFi Technologies by 202.3% during 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 last quarter. Dynamic Advisor Solutions LLC boosted its position in SoFi Technologies by 24.9% during 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 in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. grew its holdings 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 valued at $3,117,000 after purchasing an additional 59,412 shares during the last quarter. 38.43% of the stock is 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.