SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 3% on Tuesday . The company traded as high as $7.54 and last traded at $7.47. 11,348,558 shares were traded during mid-day trading, a decline of 78% from the average session volume of 52,147,652 shares. The stock had previously closed at $7.25.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SOFI. Morgan Stanley reaffirmed 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. Wedbush reaffirmed an "underperform" rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, January 30th. Jefferies Financial Group decreased their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 26th. Finally, Citigroup started coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a "buy" rating and a $11.00 target price for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $9.08.

SoFi Technologies Price Performance

The company's 50 day moving average price is $7.69 and its 200-day moving average price is $7.90. The company has a market cap of $7.40 billion, a price-to-earnings ratio of -19.95 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its 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 for 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%. The firm's quarterly revenue was up 34.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in SoFi Technologies by 3.5% in the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company's stock valued at $610,458,000 after acquiring an additional 2,567,797 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in SoFi Technologies by 102.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company's stock valued at $3,962,000 after acquiring an additional 250,854 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in SoFi Technologies by 202.3% in the third quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company's stock valued at $120,000 after acquiring an additional 10,013 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in SoFi Technologies by 24.9% in the third quarter. Dynamic Advisor Solutions LLC now owns 22,542 shares of the company's stock valued at $180,000 after acquiring an additional 4,491 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in SoFi Technologies by 18.0% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company's stock valued at $3,117,000 after acquiring an additional 59,412 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.