SoFi Technologies, Inc. (NASDAQ:SOFI) Short Interest Update

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 171,640,000 shares, a decline of 18.2% from the March 15th total of 209,900,000 shares. Based on an average trading volume of 55,060,000 shares, the short-interest ratio is currently 3.1 days. Approximately 19.0% of the shares of the stock are short sold.

Insider Activity

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. Capital Advisors Wealth Management LLC grew its holdings in SoFi Technologies by 3.2% during the first quarter. Capital Advisors Wealth Management LLC now owns 102,513 shares of the company's stock valued at $748,000 after purchasing an additional 3,150 shares during the period. Anderson Hoagland & Co. grew its holdings in SoFi Technologies by 11.2% during the first quarter. Anderson Hoagland & Co. now owns 445,977 shares of the company's stock valued at $3,372,000 after purchasing an additional 44,976 shares during the period. SOA Wealth Advisors LLC. grew its holdings in SoFi Technologies by 61.2% during the first 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. Banque Cantonale Vaudoise grew its holdings in SoFi Technologies by 16.0% during the first quarter. Banque Cantonale Vaudoise now owns 14,500 shares of the company's stock valued at $107,000 after purchasing an additional 2,000 shares during the period. Finally, Moseley Investment Management Inc. grew its holdings in SoFi Technologies by 15.1% during the first quarter. Moseley Investment Management Inc. now owns 30,680 shares of the company's stock valued at $224,000 after purchasing an additional 4,021 shares during the period. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Trading Down 4.1 %

Shares of SOFI traded down $0.31 on Friday, reaching $7.33. 36,704,142 shares of the company's stock were exchanged, compared to its average volume of 39,999,840. 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 stock has a market capitalization of $7.16 billion, a P/E ratio of -19.29 and a beta of 1.75. The business has a 50 day moving average price of $7.79 and a two-hundred day moving average price of $7.93. SoFi Technologies has a 12 month low of $4.45 and a 12 month high of $11.70.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. SoFi Technologies's revenue for the quarter was up 34.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. Research analysts anticipate that SoFi Technologies will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Jefferies Financial Group decreased their target price 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. Wedbush reissued an "underperform" rating and set a $3.00 price target on shares of SoFi Technologies in a report on Wednesday, March 6th. Morgan Stanley reissued an "underweight" rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Needham & Company LLC initiated coverage on shares of SoFi Technologies in a report on Wednesday, April 3rd. They set a "buy" rating and a $10.00 price target for the company. Finally, Mizuho cut their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.08.

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.