SoFi Technologies (NASDAQ:SOFI) Trading 3.2% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 3.2% during mid-day trading on Monday . The stock traded as high as $7.65 and last traded at $7.64. Approximately 17,234,685 shares were traded during trading, a decline of 68% from the average daily volume of 54,488,000 shares. The stock had previously closed at $7.40.

Wall Street Analyst Weigh In

SOFI has been the subject of several research reports. Mizuho lowered their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, January 18th. Citigroup initiated coverage on shares of SoFi Technologies in a report on Monday. They set a "buy" rating and a $11.00 target price on the stock. 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 target price on the stock. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, January 30th. Finally, Morgan Stanley restated an "underweight" rating and set a $6.50 target price (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 assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.08.

SoFi Technologies Price Performance

The company has a market cap of $7.58 billion, a P/E ratio of -20.03 and a beta of 1.75. The company's 50-day moving average price is $7.84 and its two-hundred day moving average price is $7.93. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) 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 firm had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. During the same period in the previous year, the company earned ($0.05) earnings per share. SoFi Technologies's quarterly revenue was up 34.7% on a year-over-year basis. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.07 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction 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 completion of the transaction, the chief technology officer now owns 390,616 shares of the company's stock, valued at $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of SOFI. Snowden Capital Advisors LLC raised its position in shares of SoFi Technologies by 8.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 15,375 shares of the company's stock worth $128,000 after purchasing an additional 1,250 shares during the period. Wedmont Private Capital lifted its stake in SoFi Technologies by 13.2% in the fourth quarter. Wedmont Private Capital now owns 12,068 shares of the company's stock valued at $120,000 after buying an additional 1,411 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in SoFi Technologies by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company's stock valued at $1,536,000 after buying an additional 1,413 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 1,481 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of SoFi Technologies by 2.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company's stock worth $655,000 after acquiring an additional 1,498 shares during the last quarter. 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.