SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 0.3% during mid-day trading on Thursday . The stock traded as low as $7.68 and last traded at $7.71. Approximately 10,269,914 shares traded hands during trading, a decline of 78% from the average daily volume of 45,693,195 shares. The stock had previously closed at $7.73.

Analysts Set New Price Targets

Several research analysts have issued reports on SOFI shares. BTIG Research started coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Barclays reduced their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.14.

SoFi Technologies Price Performance

The firm has a market cap of $8.16 billion, a price-to-earnings ratio of -24.87, a P/E/G ratio of 1.60 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $7.36 and a 200 day moving average of $7.15.

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. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. Equities research analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The stock was 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 owns 161,511 shares in the company, valued at approximately $1,290,472.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,328 shares of company stock valued at $808,246. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in SoFi Technologies during the 2nd quarter worth about $731,000. EP Wealth Advisors LLC grew its holdings in shares of SoFi Technologies by 1.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 382,844 shares of the company’s stock valued at $2,531,000 after acquiring an additional 6,122 shares in the last quarter. Quarry LP bought a new position in shares of SoFi Technologies in the 2nd quarter valued at about $84,000. Second Line Capital LLC grew its holdings in shares of SoFi Technologies by 1.3% in the 2nd quarter. Second Line Capital LLC now owns 244,446 shares of the company’s stock valued at $1,616,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of SoFi Technologies by 64.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock valued at $1,948,000 after acquiring an additional 115,316 shares in the last quarter. 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.