SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price shot up 0.1% during mid-day trading on Wednesday . The company traded as high as $7.08 and last traded at $7.07. 10,328,563 shares changed hands during trading, a decline of 81% from the average session volume of 53,516,668 shares. The stock had previously closed at $7.06.

Analyst Ratings Changes

SOFI has been the topic of a number of research reports. Morgan Stanley reaffirmed an "underweight" rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Jefferies Financial Group lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, March 26th. Wedbush reaffirmed an "underperform" rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, April 30th. Finally, Citigroup began coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a "buy" rating and a $11.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and an average target price of $9.08.

SoFi Technologies Price Performance

The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -22.81 and a beta of 1.75. The stock has a fifty day simple moving average of $7.44 and a 200-day simple moving average of $7.84. 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 earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The business had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. SoFi Technologies's revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Activity

In other news, CEO Anthony Noto bought 28,775 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Anthony Noto bought 28,775 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the purchase, the chief executive officer now owns 8,033,369 shares of the company's stock, valued at approximately $55,430,246.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SOFI. GAMMA Investing LLC acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. Westside Investment Management Inc. raised its stake in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company's stock worth $31,000 after acquiring an additional 1,500 shares in the last quarter. ORG Partners LLC bought a new position in shares of SoFi Technologies during the first quarter valued at $27,000. Tortoise Investment Management LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $39,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $40,000. 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.