SoFi Technologies (NASDAQ:SOFI) Trading Up 1%

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 1% during mid-day trading on Thursday . The stock traded as high as $7.47 and last traded at $7.43. Approximately 6,361,789 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 56,064,930 shares. The stock had previously closed at $7.36.

Analyst Ratings Changes

Several research firms have commented on SOFI. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $6.50 target price (down from $7.50) on shares of SoFi Technologies in a research note on Wednesday, January 3rd. Mizuho lowered their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. Finally, Wedbush reissued an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.97.

SoFi Technologies Price Performance

The company’s 50 day moving average is $7.89 and its 200 day moving average is $8.01. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of -19.55 and a beta of 1.80.

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

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The shares were 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 $2,706,968.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. Moneta Group Investment Advisors LLC acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $83,643,000. Norges Bank purchased a new position in shares of SoFi Technologies in the fourth quarter worth approximately $44,799,000. State Street Corp increased its position in shares of SoFi Technologies by 76.6% in the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock worth $61,590,000 after acquiring an additional 5,068,034 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of SoFi Technologies in the fourth quarter worth approximately $38,595,000. 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.