SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 0.1% during trading on Wednesday . The stock traded as high as $7.08 and last traded at $7.07. 10,328,563 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 53,516,668 shares. The stock had previously closed at $7.06.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Morgan Stanley reiterated an “underweight” rating and set a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Finally, Citigroup initiated coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Price Performance

The business has a 50 day simple moving average of $7.44 and a 200-day simple moving average of $7.84. The company has a market capitalization of $6.89 billion, a P/E ratio of -22.81 and a beta of 1.75. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The firm had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. During the same period in the previous year, the business posted ($0.05) EPS. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. Analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony Noto acquired 28,775 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Anthony Noto acquired 28,775 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the business’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 value of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. ORG Partners LLC acquired a new position in SoFi Technologies in the first quarter worth approximately $27,000. Westside Investment Management Inc. increased its holdings in shares of SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of SoFi Technologies during the 1st quarter worth $37,000. 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.