SoFi Technologies (NASDAQ:SOFI) Trading Up 2.9%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report) traded up 2.9% during trading on Wednesday . The stock traded as high as $7.52 and last traded at $7.41. 20,030,112 shares were traded during trading, a decline of 64% from the average session volume of 55,082,594 shares. The stock had previously closed at $7.20.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC assumed coverage on shares of SoFi Technologies in a report on Wednesday. They set a “buy” rating and a $10.00 target price on the stock. Mizuho cut their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Wedbush reissued an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a report on Wednesday, March 6th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $6.50 price target (down previously from $7.50) on shares of SoFi Technologies in a report on Wednesday, January 3rd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.03.

Read Our Latest Analysis on SOFI

SoFi Technologies Price Performance

The business’s 50 day moving average price is $7.86 and its 200 day moving average price is $7.95. The stock has a market capitalization of $7.39 billion, a P/E ratio of -19.50 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last announced its quarterly earnings results on Monday, January 29th. The company reported $0.02 EPS for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.07 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of 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. boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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. boosted its position in shares of 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. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Company Profile

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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.

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