SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 1% during mid-day trading on Wednesday . The stock traded as high as $8.24 and last traded at $8.20. 6,806,653 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 45,739,188 shares. The stock had previously closed at $8.12.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SOFI shares. Barclays reduced their price objective on shares of 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. Keefe, Bruyette & Woods decreased their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. BTIG Research initiated coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Performance

The company has a market cap of $8.55 billion, a P/E ratio of -26.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. The stock has a 50 day moving average price of $7.26 and a two-hundred day moving average price of $7.14. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

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

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 24,939 shares of the firm’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 transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Axxcess Wealth Management LLC acquired a new position in SoFi Technologies during the first quarter valued at approximately $185,000. Wells Fargo & Company MN raised its holdings in shares of SoFi Technologies by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock worth $28,398,000 after buying an additional 493,707 shares in the last quarter. Miracle Mile Advisors LLC lifted its position 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 during 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 own 38.43% of the company’s stock.

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.