SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.2%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 2.2% during mid-day trading on Thursday . The company traded as high as $7.32 and last traded at $7.32. 9,989,822 shares were traded during mid-day trading, a decline of 81% from the average session volume of 52,839,852 shares. The stock had previously closed at $7.16.

Analysts Set New Price Targets

Several research firms have recently commented on SOFI. Morgan Stanley reiterated an “underweight” rating and set a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their target price for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Finally, Jefferies Financial Group reduced their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The firm has a fifty day moving average of $7.72 and a 200-day moving average of $7.90.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share 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 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 sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Kesler Norman & Wride LLC bought a new position in SoFi Technologies during the 1st quarter valued at $80,000. Marshall Financial Group LLC bought a new position in shares of SoFi Technologies in the first quarter valued at $89,000. Kovack Advisors Inc. lifted its position in shares of SoFi Technologies by 6.4% during the 1st quarter. Kovack Advisors Inc. now owns 125,315 shares of the company’s stock valued at $915,000 after acquiring an additional 7,502 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 176.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after acquiring an additional 6,870,610 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new position in shares of SoFi Technologies in the 1st quarter worth $7,300,000. Institutional investors own 38.43% of the company’s stock.

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.