SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Average Rating of “Reduce” from Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned an average rating of “Reduce” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $11.13.

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd.

Insider Activity

In other news, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the transaction, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $3,766,000. Citizens Financial Group Inc. RI boosted its position in shares of SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the period. Finally, Qsemble Capital Management LP acquired a new position in SoFi Technologies during the third quarter worth approximately $930,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 5.0 %

SOFI opened at $14.84 on Friday. The stock has a market capitalization of $16.10 billion, a PE ratio of 148.41, a P/E/G ratio of 2.70 and a beta of 1.77. SoFi Technologies has a one year low of $6.01 and a one year high of $17.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The business’s 50 day moving average price is $14.59 and its 200 day moving average price is $10.04.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, equities research analysts expect that SoFi Technologies will post 0.12 EPS for the current year.

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.