SoFi Technologies (NASDAQ:SOFI) Trading 1% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 1% on Friday . The stock traded as high as $7.24 and last traded at $7.20. Approximately 8,589,660 shares were traded during trading, a decline of 84% from the average daily volume of 52,592,977 shares. The stock had previously closed at $7.13.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their target price for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Citigroup started 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SoFi Technologies in a research note on Wednesday, January 10th. They set a “hold” rating and a $11.00 target price on the stock. Needham & Company LLC began coverage on shares of SoFi Technologies in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Performance

The company has a market cap of $7.07 billion, a PE ratio of -18.95 and a beta of 1.75. The firm’s 50 day moving average is $7.74 and its 200-day moving average is $7.91. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

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

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOFI. Moneta Group Investment Advisors LLC purchased a new position in SoFi Technologies in the fourth quarter valued at $83,643,000. Norges Bank acquired a new stake in SoFi Technologies in the fourth quarter valued at $44,799,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after buying an additional 6,870,610 shares in the last quarter. State Street Corp raised its stake in SoFi Technologies by 76.6% in the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock valued at $61,590,000 after buying an additional 5,068,034 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after buying an additional 5,057,233 shares in the last quarter. 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.