SoFi Technologies (NASDAQ:SOFI) Trading Up 2.5%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 2.5% during trading on Thursday . The stock traded as high as $8.45 and last traded at $8.31. 20,242,603 shares were traded during mid-day trading, a decline of 56% from the average session volume of 45,885,516 shares. The stock had previously closed at $8.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SOFI shares. Barclays cut their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. BTIG Research started coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of -26.81, a PEG ratio of 1.48 and a beta of 1.70. The firm has a fifty day moving average of $7.29 and a 200 day moving average of $7.14.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Dimensional Fund Advisors LP boosted its position in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Norges Bank purchased a new position in SoFi Technologies during the fourth quarter valued at $71,349,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of SoFi Technologies by 176.3% during 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 during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after acquiring an additional 6,870,610 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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.