SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.8%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 3.8% during mid-day trading on Tuesday . The company traded as low as $7.58 and last traded at $7.62. Approximately 15,314,769 shares traded hands during trading, a decline of 67% from the average daily volume of 45,825,531 shares. The stock had previously closed at $7.92.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays lowered their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. BTIG Research began coverage on shares of SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods dropped their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two 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, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Down 1.6 %

The firm has a fifty day moving average of $7.36 and a 200-day moving average of $7.15. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a market cap of $8.24 billion, a P/E ratio of -24.58, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Axxcess Wealth Management LLC bought a new position in SoFi Technologies during the 1st quarter worth $185,000. Wells Fargo & Company MN boosted its holdings in shares of SoFi Technologies by 20.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after purchasing an additional 493,707 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of SoFi Technologies by 3.7% during the 2nd quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock worth $558,000 after buying an additional 3,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted 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. Finally, Dimensional Fund Advisors LP bought a new position in SoFi Technologies in the fourth quarter valued at about $38,595,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.