SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.9%

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 0.9% during mid-day trading on Wednesday . The company traded as high as $6.55 and last traded at $6.51. Approximately 8,025,004 shares traded hands during trading, a decline of 83% from the average daily volume of 47,360,844 shares. The stock had previously closed at $6.45.

Analyst Ratings Changes

SOFI has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $6.50 to $7.50 in a report on Friday, April 5th. BTIG Research began coverage on shares of SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating for the company. Wedbush reiterated an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a report on Tuesday, April 30th. Finally, Citigroup began coverage on shares of SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Stock Performance

The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of -21.03, a P/E/G ratio of 1.51 and a beta of 1.70. The company’s fifty day simple moving average is $6.86 and its 200 day simple moving average is $7.64. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of the firm’s stock in a transaction that occurred 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 purchase, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 88,390 shares of company stock worth $597,569. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of SOFI. GAMMA Investing LLC acquired a new stake in SoFi Technologies during the fourth quarter worth about $27,000. ORG Partners LLC acquired a new stake in SoFi Technologies during the first quarter worth about $27,000. Westside Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the first quarter worth about $37,000. 38.43% of the stock is currently 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.