SoFi Technologies (NASDAQ:SOFI) Shares Gap Up to $14.50

SoFi Technologies, Inc. (NASDAQ:SOFI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $14.50, but opened at $14.91. SoFi Technologies shares last traded at $14.81, with a volume of 123,108 shares trading hands.

Several research analysts have commented on the stock. Oppenheimer assumed coverage on shares of SoFi Technologies in a research report on Tuesday, June 1st. They set an “outperform” rating and a $25.00 price objective for the company. Credit Suisse Group assumed coverage on shares of SoFi Technologies in a research report on Thursday, September 9th. They set a “neutral” rating and a $16.50 price objective for the company. Mizuho assumed coverage on shares of SoFi Technologies in a research report on Tuesday. They set a “buy” rating and a $28.00 price objective for the company. Rosenblatt Securities assumed coverage on shares of SoFi Technologies in a research report on Tuesday, June 15th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of SoFi Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.88.

The firm has a 50 day simple moving average of $15.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 17.29 and a current ratio of 17.29.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Thursday, August 12th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.41). As a group, equities analysts predict that SoFi Technologies, Inc. will post -0.84 earnings per share for the current fiscal year.

In other SoFi Technologies news, CFO Christopher Lapointe acquired 3,500 shares of SoFi Technologies stock in a transaction that occurred on Thursday, August 19th. The shares were bought at an average price of $14.02 per share, with a total value of $49,070.00. Following the completion of the purchase, the chief financial officer now directly owns 270,497 shares in the company, valued at approximately $3,792,367.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Micah Heavener sold 6,250 shares of the business’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $16.00, for a total transaction of $100,000.00. Following the completion of the sale, the insider now directly owns 90,162 shares in the company, valued at approximately $1,442,592. The disclosure for this sale can be found here. In the last three months, insiders purchased 24,950 shares of company stock worth $349,513. 35.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Usca Ria LLC bought a new stake in SoFi Technologies during the second quarter valued at $249,000. Liberty Street Advisors Inc. bought a new stake in SoFi Technologies during the second quarter valued at $14,223,000. Cooper Haims Advisors LLC bought a new stake in SoFi Technologies during the second quarter valued at $192,000. Hartline Investment Corp bought a new stake in SoFi Technologies during the second quarter valued at $7,267,000. Finally, Wedbush Securities Inc. acquired a new position in shares of SoFi Technologies during the second quarter valued at about $239,000. 25.00% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies, Inc provides digital financial services. The company operates through three reportable segments: Lending, Financial Services, and Technology Platform. Its financial services allow its members to borrow, save, spend, invest, and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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