SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.9%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 0.9% during trading on Friday . The stock traded as high as $7.82 and last traded at $7.66. Approximately 19,612,724 shares were traded during trading, a decline of 62% from the average daily volume of 51,893,441 shares. The stock had previously closed at $7.59.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SOFI. 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 note on Tuesday, March 26th. Keefe, Bruyette & Woods raised SoFi Technologies from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Wedbush restated an "underperform" rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a "buy" rating and a $11.00 target price on the stock. Finally, 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. 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 company's stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and a consensus price target of $9.08.

SoFi Technologies Stock Performance

The company has a market cap of $7.69 billion, a price-to-earnings ratio of -20.16 and a beta of 1.75. The firm has a 50-day simple moving average of $7.65 and a 200 day simple moving average of $7.90. 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 results on Monday, January 29th. The company reported $0.02 EPS 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 during the quarter, compared to the consensus estimate of $572.02 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. SoFi Technologies's revenue for the quarter was up 34.7% on a year-over-year basis. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies 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 transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in SoFi Technologies by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock worth $810,527,000 after purchasing an additional 5,057,233 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in SoFi Technologies by 176.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company's stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the period. Norges Bank purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $71,349,000. Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 199,949 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in SoFi Technologies by 15.4% during the third quarter. Northern Trust Corp now owns 4,371,786 shares of the company's stock worth $34,931,000 after acquiring an additional 584,335 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

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.

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