SoFi Technologies (NASDAQ:SOFI) Trading Up 4%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 4% during trading on Friday . The company traded as high as $8.09 and last traded at $8.07. Approximately 14,452,384 shares changed hands during trading, a decline of 68% from the average daily volume of 45,624,527 shares. The stock had previously closed at $7.76.

Analyst Ratings Changes

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

SoFi Technologies Price Performance

The business has a 50-day simple moving average of $7.36 and a 200 day simple moving average of $7.16. The stock has a market cap of $8.43 billion, a P/E ratio of -26.03, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

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

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. The disclosure for this sale can be found here. Insiders have sold a total of 102,328 shares of company stock worth $808,246 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in shares of SoFi Technologies in the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake 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 purchasing an additional 1,713 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of SoFi Technologies in the first quarter worth approximately $37,000. 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.