SoFi Technologies (NASDAQ:SOFI) Trading Up 2.2%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 2.2% during trading on Thursday . The company traded as high as $7.32 and last traded at $7.32. Approximately 9,989,822 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 52,839,852 shares. The stock had previously closed at $7.16.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SOFI shares. The Goldman Sachs Group upped their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Needham & Company LLC started coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target for the company. Jefferies Financial Group reduced their price target 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. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Mizuho dropped their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. 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. According to MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target 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 business has a 50-day simple moving average of $7.76 and a 200-day simple moving average of $7.91. The firm has a market capitalization of $7.04 billion, a PE ratio of -19.26 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $615.40 million for the quarter, compared to the consensus estimate of $572.02 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 34.7% compared to the same quarter last year. Equities research analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SOFI. Moneta Group Investment Advisors LLC purchased a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $83,643,000. Norges Bank purchased a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $44,799,000. State Street Corp raised its holdings 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 buying an additional 5,068,034 shares during the period. Vanguard Group Inc. raised its holdings 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 buying an additional 5,057,233 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $38,595,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.