SoFi Technologies (NASDAQ:SOFI) Trading Up 0.1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 0.1% during mid-day trading on Monday . The stock traded as high as $7.41 and last traded at $7.34. 9,683,311 shares changed hands during trading, a decline of 82% from the average session volume of 53,724,715 shares. The stock had previously closed at $7.33.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SOFI. Jefferies Financial Group dropped their price target on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 26th. Needham & Company LLC began coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They set a "buy" rating and a $10.00 price target for the company. Wedbush reissued an "underperform" rating and set a $3.00 price target on shares of SoFi Technologies in a research report on Wednesday, March 6th. Morgan Stanley reissued an "underweight" rating and set a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Finally, Keefe, Bruyette & Woods raised SoFi Technologies from an "underperform" rating to a "market perform" rating and raised their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Three equities 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $9.08.

SoFi Technologies Stock Performance

The stock has a 50-day simple moving average of $7.79 and a 200-day simple moving average of $7.93. 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 stock has a market cap of $6.95 billion, a PE ratio of -18.79 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in SoFi Technologies by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock valued at $810,527,000 after buying an additional 5,057,233 shares in the last quarter. BlackRock Inc. grew its holdings in shares of SoFi Technologies by 6.4% during the second quarter. BlackRock Inc. now owns 38,122,793 shares of the company's stock valued at $317,944,000 after purchasing an additional 2,302,565 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $83,643,000. State Street Corp grew its holdings in shares of SoFi Technologies by 12.9% during the second quarter. State Street Corp now owns 13,680,519 shares of the company's stock valued at $114,096,000 after purchasing an additional 1,567,782 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in SoFi Technologies by 4.2% in the 1st quarter. Geode Capital Management LLC now owns 12,051,675 shares of the company's stock worth $73,154,000 after buying an additional 484,530 shares in the last quarter. Institutional investors and hedge funds 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.