SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.9%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price rose 1.9% during trading on Monday . The company traded as high as $6.49 and last traded at $6.44. Approximately 6,422,851 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 48,642,250 shares. The stock had previously closed at $6.32.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Jefferies Financial Group reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Citigroup assumed coverage on SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Wedbush reaffirmed an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Trading Up 0.3 %

The firm has a 50-day moving average of $6.98 and a 200 day moving average of $7.73. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period in the previous year, the company posted ($0.05) EPS. SoFi Technologies’s revenue for the quarter was up 26.2% on a year-over-year basis. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. Insiders have acquired a total of 88,390 shares of company stock valued at $597,569 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in SoFi Technologies during the 4th quarter worth $27,000. ORG Partners LLC bought a new position in SoFi Technologies during the 1st quarter worth $27,000. Westside Investment Management Inc. grew its stake in SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of 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 purchasing an additional 1,713 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the first quarter worth $37,000. 38.43% of the stock is currently owned by 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.