SoFi Technologies (NASDAQ:SOFI) Trading 1.5% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares shot up 1.5% during mid-day trading on Friday . The stock traded as high as $7.44 and last traded at $7.42. 9,844,682 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 54,783,602 shares. The stock had previously closed at $7.31.

Analysts Set New Price Targets

A number of analysts recently issued reports on SOFI shares. Wedbush reaffirmed an "underperform" rating and issued a $3.00 target price on shares of SoFi Technologies in a research report on Wednesday, March 6th. Jefferies Financial Group lowered their target price on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods raised SoFi Technologies from an "underperform" rating to a "market perform" rating and lifted their target price for the company from $6.50 to $7.50 in a research report on Friday. Mizuho lowered their target price on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, January 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on SoFi Technologies in a research report on Wednesday, January 10th. They set a "hold" rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $9.08.

SoFi Technologies Trading Up 1.2 %

The company has a market cap of $7.23 billion, a P/E ratio of -19.47 and a beta of 1.75. The business has a fifty day moving average price of $7.84 and a 200-day moving average price of $7.94. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $572.02 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business's revenue was up 34.7% on a year-over-year basis. On average, analysts forecast that SoFi Technologies, Inc. will post 0.07 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction that occurred on 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 $2,706,968.88. The sale was disclosed in a filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC raised its position in SoFi Technologies by 8.8% during the second quarter. Snowden Capital Advisors LLC now owns 15,375 shares of the company's stock valued at $128,000 after purchasing an additional 1,250 shares in the last quarter. Wedmont Private Capital raised its position in SoFi Technologies by 13.2% during the fourth quarter. Wedmont Private Capital now owns 12,068 shares of the company's stock valued at $120,000 after purchasing an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in SoFi Technologies by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company's stock valued at $1,536,000 after purchasing an additional 1,413 shares in the last quarter. MetLife Investment Management LLC raised its position in SoFi Technologies by 8.9% during the second quarter. MetLife Investment Management LLC now owns 18,167 shares of the company's stock valued at $152,000 after purchasing an additional 1,481 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in SoFi Technologies by 2.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company's stock valued at $655,000 after purchasing an additional 1,498 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.