SoFi Technologies (NASDAQ:SOFI) Hits New 52-Week Low on Analyst Downgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report) hit a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $10.00 to $8.00. Barclays currently has an equal weight rating on the stock. SoFi Technologies traded as low as $6.15 and last traded at $6.24, with a volume of 19689440 shares traded. The stock had previously closed at $6.35.

Several other research analysts also recently weighed in on the company. Jefferies Financial Group reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday. BTIG Research started coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.29.

Check Out Our Latest Analysis on SOFI

Insider Activity

In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $6.90 per share, with a total value of $198,547.50. Following the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Noto bought 28,775 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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 in the company, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. Insiders have acquired a total of 88,390 shares of company stock valued at $597,569 in the last quarter. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in SoFi Technologies by 21.7% during the 2nd quarter. CWM LLC now owns 51,284 shares of the company’s stock worth $339,000 after acquiring an additional 9,151 shares in the last quarter. DNB Asset Management AS raised its position in SoFi Technologies by 15.3% in the 2nd quarter. DNB Asset Management AS now owns 95,954 shares of the company’s stock valued at $634,000 after purchasing an additional 12,717 shares in the last quarter. GAMMA Investing LLC raised its position in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares in the last quarter. Waller Financial Planning Group Inc. acquired a new stake in SoFi Technologies in the 2nd quarter valued at about $65,000. Finally, Pathway Financial Advisers LLC acquired a new stake in SoFi Technologies in the 1st quarter valued at about $316,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The company has a market cap of $6.95 billion, a price-to-earnings ratio of -21.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. The business has a 50-day simple moving average of $6.80 and a 200-day simple moving average of $7.53.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million for 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%. SoFi Technologies’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

About SoFi Technologies

(Get Free Report)

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.

Read More

Receive News & Ratings for SoFi Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SoFi Technologies and related companies with MarketBeat.com's FREE daily email newsletter.