SoFi Technologies (NASDAQ:SOFI) Receives New Coverage from Analysts at Mizuho

Mizuho began coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research note released on Tuesday, The Fly reports. The firm issued a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Rosenblatt Securities started coverage on SoFi Technologies in a research note on Tuesday, June 15th. They issued a buy rating and a $30.00 price objective for the company. Zacks Investment Research lowered SoFi Technologies from a hold rating to a sell rating in a report on Saturday, August 7th. Oppenheimer initiated coverage on SoFi Technologies in a research note on Tuesday, June 1st. They issued an outperform rating and a $25.00 price target on the stock. Finally, Credit Suisse Group initiated coverage on SoFi Technologies in a research report on Thursday, September 9th. They set a neutral rating and a $16.50 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $23.83.

Shares of SOFI opened at $14.50 on Tuesday. The business’s 50 day moving average price is $15.41. SoFi Technologies has a 1 year low of $10.10 and a 1 year high of $28.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 17.29 and a current ratio of 17.29.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Thursday, August 12th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.41). As a group, equities analysts forecast that SoFi Technologies will post -0.84 EPS for the current fiscal year.

In other news, CEO Anthony Noto bought 7,150 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The shares were acquired at an average cost of $13.78 per share, with a total value of $98,527.00. Following the transaction, the chief executive officer now owns 2,217,252 shares of the company’s stock, valued at approximately $30,553,732.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Micah Heavener sold 20,000 shares of the stock in a transaction on Tuesday, August 24th. The stock was sold at an average price of $14.83, for a total value of $296,600.00. Following the completion of the transaction, the insider now directly owns 101,412 shares in the company, valued at $1,503,939.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 24,950 shares of company stock valued at $349,513. 35.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jasper Ridge Partners L.P. acquired a new position in SoFi Technologies in the second quarter worth about $1,112,000. Newbridge Financial Services Group Inc. acquired a new position in SoFi Technologies in the second quarter valued at approximately $431,000. Marshall Wace LLP bought a new stake in shares of SoFi Technologies during the second quarter valued at approximately $17,175,000. Marshall Wace North America L.P. bought a new stake in shares of SoFi Technologies during the second quarter valued at approximately $1,498,000. Finally, Morgan Stanley bought a new stake in shares of SoFi Technologies during the second quarter valued at approximately $23,736,000. 25.00% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies

SoFi Technologies, Inc provides digital financial services. The company operates through three reportable segments: Lending, Financial Services, and Technology Platform. Its financial services allow its members to borrow, save, spend, invest, and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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