SoFi Technologies (NASDAQ:SOFI) Shares Up 1.3% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 1.3% during mid-day trading on Friday . The company traded as high as $8.11 and last traded at $7.93. Approximately 12,369,095 shares were traded during trading, a decline of 73% from the average daily volume of 45,222,363 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SOFI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. BTIG Research initiated coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods cut their target price 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. Finally, Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.14.

SoFi Technologies Stock Up 6.1 %

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 company’s fifty day simple moving average is $7.39 and its 200 day simple moving average is $7.17. The firm has a market capitalization of $8.79 billion, a PE ratio of -25.58, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same period last year, the business posted ($0.06) earnings per share. SoFi Technologies’s quarterly revenue was up 20.2% compared to the same quarter last year. Analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,328 shares of company stock worth $808,246. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its holdings in SoFi Technologies by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after acquiring an additional 1,498 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in SoFi Technologies by 0.4% in the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock worth $3,751,000 after acquiring an additional 1,508 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in SoFi Technologies by 61.2% in the 1st 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, GAMMA Investing LLC raised its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.