SoFi Technologies (NASDAQ:SOFI) Shares Down 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was down 0.3% during mid-day trading on Thursday . The stock traded as low as $6.86 and last traded at $6.90. Approximately 14,672,805 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 53,906,059 shares. The stock had previously closed at $6.92.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SOFI shares. Wedbush restated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a report on Tuesday. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Performance

The firm has a 50-day moving average price of $7.56 and a 200-day moving average price of $7.86. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The stock has a market cap of $6.76 billion, a PE ratio of -22.45 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. SoFi Technologies’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC bought a new stake in SoFi Technologies in the 4th quarter worth about $27,000. Westside Investment Management Inc. grew its stake in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the period. SOA Wealth Advisors LLC. grew its stake in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of SoFi Technologies during the 1st quarter valued at about $37,000. Finally, Tortoise Investment Management LLC bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $39,000. 38.43% of the stock is currently owned by 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.