SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.5%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 1.5% during mid-day trading on Tuesday . The company traded as high as $8.27 and last traded at $8.18. Approximately 11,205,949 shares were traded during trading, a decline of 76% from the average daily volume of 45,745,145 shares. The stock had previously closed at $8.06.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BTIG Research initiated coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. 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. Finally, Barclays dropped 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.14.

SoFi Technologies Stock Down 0.1 %

The firm has a market cap of $8.57 billion, a PE ratio of -26.16, a PEG ratio of 1.48 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The company’s 50-day simple moving average is $7.29 and its two-hundred day simple moving average is $7.14.

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

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value 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 approximately $830,594.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Axxcess Wealth Management LLC purchased a new stake in SoFi Technologies in the first quarter worth $185,000. Wells Fargo & Company MN lifted its position in SoFi Technologies by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after acquiring an additional 493,707 shares during the period. Miracle Mile Advisors LLC boosted its stake in SoFi Technologies by 3.7% during the second quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock worth $558,000 after acquiring an additional 3,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings 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 worth $78,601,000 after purchasing an additional 6,870,610 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in SoFi Technologies in the fourth quarter worth 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.