SoFi Technologies (NASDAQ:SOFI) Shares Down 1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded down 1% on Monday . The stock traded as low as $7.17 and last traded at $7.21. 7,851,792 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 52,300,258 shares. The stock had previously closed at $7.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Jefferies Financial Group cut their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Citigroup began coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The business has a 50 day moving average price of $7.26 and a two-hundred day moving average price of $7.83.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CEO Anthony Noto acquired 28,775 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Jeremy Rishel sold 56,273 shares of the 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 transaction, 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 the SEC website. Also, CEO Anthony Noto acquired 28,775 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in SoFi Technologies in the first quarter worth approximately $670,000. Comerica Bank boosted its position in SoFi Technologies by 27.1% during the 1st quarter. Comerica Bank now owns 23,782 shares of the company’s stock valued at $174,000 after acquiring an additional 5,071 shares in the last quarter. Tidal Investments LLC boosted its position in SoFi Technologies by 15.2% during the 1st quarter. Tidal Investments LLC now owns 33,733 shares of the company’s stock valued at $246,000 after acquiring an additional 4,459 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in SoFi Technologies by 5.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 127,136 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6,488 shares in the last quarter. Finally, Interval Partners LP boosted its position in SoFi Technologies by 47,081.9% during the 1st quarter. Interval Partners LP now owns 422,837 shares of the company’s stock valued at $3,087,000 after acquiring an additional 423,737 shares in the last quarter. 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.