SoFi Technologies (NASDAQ:SOFI) Trading Up 3%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 3% during mid-day trading on Tuesday . The company traded as high as $7.54 and last traded at $7.47. Approximately 11,348,558 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 52,147,652 shares. The stock had previously closed at $7.25.

Analyst Ratings Changes

SOFI has been the subject of a number of analyst reports. Citigroup initiated coverage on SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 price target for the company. Wedbush reiterated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research report on Wednesday, March 6th. 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 research report on Tuesday, January 30th. Mizuho lowered their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Finally, Jefferies Financial Group lowered their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of -19.66 and a beta of 1.75. The stock has a 50 day simple moving average of $7.69 and a two-hundred day simple moving average of $7.91.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results 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 company had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. During the same period last year, the firm earned ($0.05) earnings per share. SoFi Technologies’s quarterly revenue was up 34.7% on a year-over-year basis. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies 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 owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

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