SoFi Technologies (NASDAQ:SOFI) Trading Up 1.5%

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 1.5% during mid-day trading on Wednesday . The company traded as high as $7.36 and last traded at $7.31. Approximately 10,422,979 shares changed hands during trading, a decline of 82% from the average daily volume of 56,472,578 shares. The stock had previously closed at $7.20.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $6.50 price target (down from $7.50) on shares of SoFi Technologies in a report on Wednesday, January 3rd. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Mizuho decreased their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Jefferies Financial Group dropped their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of SoFi Technologies in a report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average price target of $8.97.

SoFi Technologies Stock Down 0.8 %

The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The business has a fifty day simple moving average of $7.88 and a 200 day simple moving average of $8.00.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. During the same quarter last year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.07 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in SoFi Technologies during the fourth quarter worth about $27,000. US Bancorp DE increased its holdings in shares of SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after buying an additional 2,000 shares during the last quarter. Westside Investment Management Inc. raised its position 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 buying an additional 1,500 shares during the period. Advisors Asset Management Inc. acquired a new position in SoFi Technologies in the first quarter valued at approximately $36,000. Finally, Tortoise Investment Management LLC purchased a new position in SoFi Technologies in the fourth quarter worth approximately $39,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.