SoFi Technologies (NASDAQ:SOFI) Now Covered by William Blair

Equities researchers at William Blair initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research report issued on Wednesday, Marketbeat.com reports. The firm set an “outperform” rating on the stock.

SOFI has been the topic of a number of other research reports. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.71.

SoFi Technologies Stock Up 5.1 %

Shares of SOFI opened at $16.30 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 163.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $17.19. The business’s 50 day simple moving average is $15.16 and its 200-day simple moving average is $10.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, equities analysts expect that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of SoFi Technologies by 6.9% during the second quarter. Victory Capital Management Inc. now owns 127,342 shares of the company’s stock worth $842,000 after purchasing an additional 8,267 shares in the last quarter. Choreo LLC acquired a new stake in shares of SoFi Technologies in the 2nd quarter worth $101,000. Oppenheimer & Co. Inc. grew its stake in SoFi Technologies by 7.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 246,803 shares of the company’s stock worth $1,631,000 after buying an additional 16,999 shares during the last quarter. Dimensional Fund Advisors LP increased its position in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in SoFi Technologies in the second quarter valued at about $1,125,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.