SoFi Technologies (NASDAQ:SOFI) PT Raised to $13.00

SoFi Technologies (NASDAQ:SOFI) had its target price boosted by Jefferies Financial Group from $12.00 to $13.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on SOFI. Keefe, Bruyette & Woods reduced their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays cut their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.33.

SoFi Technologies Trading Down 6.4 %

NASDAQ:SOFI opened at $10.47 on Tuesday. SoFi Technologies has a one year low of $6.01 and a one year high of $11.34. The company’s 50-day simple moving average is $8.45 and its 200 day simple moving average is $7.48. The firm has a market capitalization of $11.07 billion, a P/E ratio of -33.77, a PEG ratio of 2.08 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 results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company 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 quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) EPS. As a group, analysts forecast that SoFi Technologies will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock valued at $904,677 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SOFI. Wealthcare Advisory Partners LLC raised its stake in shares of SoFi Technologies by 53.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 26,666 shares of the company’s stock worth $195,000 after buying an additional 9,283 shares during the period. Diversified Trust Co lifted its holdings in SoFi Technologies by 37.3% during the first quarter. Diversified Trust Co now owns 25,332 shares of the company’s stock valued at $185,000 after purchasing an additional 6,880 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in SoFi Technologies by 3.8% during the first quarter. Miracle Mile Advisors LLC now owns 81,350 shares of the company’s stock valued at $594,000 after purchasing an additional 3,000 shares in the last quarter. State of Michigan Retirement System bought a new position in shares of SoFi Technologies in the first quarter worth approximately $7,300,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 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 in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.