SoFi Technologies (NASDAQ:SOFI) Shares Up 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 0.1% on Thursday . The stock traded as high as $7.64 and last traded at $7.49. 6,908,107 shares changed hands during trading, a decline of 85% from the average session volume of 45,832,586 shares. The stock had previously closed at $7.48.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SOFI. BTIG Research initiated coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. 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 research report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Barclays reduced their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.14.

SoFi Technologies Stock Performance

The company has a market capitalization of $7.75 billion, a P/E ratio of -24.16, a P/E/G ratio of 1.62 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 business’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $7.22.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities analysts anticipate 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 SoFi Technologies 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 of the company’s stock, valued at approximately $830,594.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,921,285 shares of company stock valued at $135,057,462. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after buying an additional 1,366,271 shares during the period. Dimensional Fund Advisors LP grew its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in SoFi Technologies by 6.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after purchasing an additional 690,638 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of SoFi Technologies by 176.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after purchasing an additional 6,870,610 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at $71,349,000. 38.43% of the stock is 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.