SoFi Technologies (NASDAQ:SOFI) Trading Down 1.2%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 1.2% on Monday . The company traded as low as $7.93 and last traded at $7.95. Approximately 10,617,202 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 45,878,691 shares. The stock had previously closed at $8.05.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SOFI shares. Keefe, Bruyette & Woods decreased 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 research report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. BTIG Research assumed coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. 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 report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.14.

SoFi Technologies Trading Down 0.7 %

The business’s 50-day moving average price is $7.34 and its 200-day moving average price is $7.15. The firm has a market capitalization of $8.45 billion, a PE ratio of -25.65, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting 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 for the quarter, compared to analyst estimates of $565.19 million. During the same period in the previous year, the business posted ($0.06) earnings per share. SoFi Technologies’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, analysts expect 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 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 completion of the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in SoFi Technologies during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in SoFi Technologies by 55.3% during the second 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 period. SOA Wealth Advisors LLC. raised its position in 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 acquiring an additional 1,713 shares in the last quarter. GAMMA Investing LLC lifted its holdings in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter worth $37,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.