SoFi Technologies (NASDAQ:SOFI) Trading 1.1% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 1.1% on Friday . The stock traded as high as $6.61 and last traded at $6.61. 5,320,585 shares were traded during trading, a decline of 89% from the average session volume of 47,782,984 shares. The stock had previously closed at $6.54.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. BTIG Research assumed coverage on shares of SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Jefferies Financial Group cut their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Trading Up 1.1 %

The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average is $6.94 and its two-hundred day moving average is $7.70. The firm has a market cap of $6.99 billion, a P/E ratio of -21.32, a P/E/G ratio of 1.51 and a beta of 1.72.

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

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto acquired 28,775 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $6.90 per share, with a total value of $198,547.50. Following the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Anthony Noto bought 28,775 shares of SoFi Technologies stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $55,430,246.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. Insiders 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $316,000. Soltis Investment Advisors LLC lifted its stake in shares of SoFi Technologies by 16.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the company’s stock worth $295,000 after acquiring an additional 5,713 shares during the period. Cetera Advisors LLC lifted its stake in shares of SoFi Technologies by 311.9% in the 1st quarter. Cetera Advisors LLC now owns 478,212 shares of the company’s stock worth $3,491,000 after acquiring an additional 362,114 shares during the period. Cetera Investment Advisers lifted its stake in shares of SoFi Technologies by 905.2% in the 1st quarter. Cetera Investment Advisers now owns 779,982 shares of the company’s stock worth $5,694,000 after acquiring an additional 702,385 shares during the period. Finally, Burney Co. acquired a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $1,324,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.