SoFi Technologies (NASDAQ:SOFI) Trading Up 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 0.3% during trading on Monday . The company traded as high as $7.23 and last traded at $7.13. Approximately 8,982,440 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 52,408,977 shares. The stock had previously closed at $7.11.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SOFI shares. Morgan Stanley reissued an "underweight" rating and issued a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SoFi Technologies in a report on Wednesday, January 10th. They set a "hold" rating and a $11.00 price target for the company. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, January 30th. Wedbush reaffirmed an "underperform" rating and set a $3.00 price target on shares of SoFi Technologies in a report on Wednesday, March 6th. Finally, Mizuho dropped 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. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $9.08.

SoFi Technologies Price Performance

The stock has a market capitalization of $7.08 billion, a P/E ratio of -19.08 and a beta of 1.75. The business's 50 day simple moving average is $7.72 and its two-hundred day simple moving average is $7.91. 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 released its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. During the same period last year, the firm earned ($0.05) earnings per share. The business's quarterly revenue was up 34.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the firm's 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 transaction, the chief technology officer now directly owns 390,616 shares of the company's stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position 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 purchasing an additional 5,057,233 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company's stock valued at $78,601,000 after purchasing an additional 6,870,610 shares during the last quarter. Norges Bank purchased a new position in shares of SoFi Technologies in the fourth quarter valued at $71,349,000. Charles Schwab Investment Management Inc. grew its holdings in shares of SoFi Technologies by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company's stock valued at $54,659,000 after purchasing an additional 199,949 shares in the last quarter. Finally, Northern Trust Corp lifted its position in SoFi Technologies by 15.4% in the third quarter. Northern Trust Corp now owns 4,371,786 shares of the company's stock worth $34,931,000 after buying an additional 584,335 shares during the last quarter. Hedge funds and other 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.