SoFi Technologies (NASDAQ:SOFI) Shares Up 5.9%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price rose 5.9% during trading on Tuesday . The company traded as high as $7.64 and last traded at $7.53. Approximately 40,142,014 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 52,948,160 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Jefferies Financial Group decreased their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, March 26th. Mizuho dropped their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft reduced their target price on SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods upgraded SoFi Technologies from an "underperform" rating to a "market perform" rating and boosted their price target for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.08.

SoFi Technologies Trading Up 5.1 %

The firm has a market cap of $7.30 billion, a price-to-earnings ratio of -24.10 and a beta of 1.75. The company's 50-day moving average price is $7.29 and its 200-day moving average price is $7.84. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating 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 1.10%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period last year, the company posted ($0.05) EPS. SoFi Technologies's quarterly revenue was up 26.2% compared to the same quarter last year. Equities analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company's stock worth $610,458,000 after purchasing an additional 2,567,797 shares during the period. Baltimore Washington Financial Advisors Inc. raised its stake in shares of SoFi Technologies by 18.0% in the 3rd 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 period. Hartline Investment Corp lifted its holdings in shares of SoFi Technologies by 3.4% in the 3rd quarter. Hartline Investment Corp now owns 865,756 shares of the company's stock worth $6,917,000 after acquiring an additional 28,115 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of SoFi Technologies by 15.3% during the 3rd quarter. Victory Capital Management Inc. now owns 96,052 shares of the company's stock worth $767,000 after purchasing an additional 12,741 shares during the period. Finally, Harbour Investments Inc. increased its holdings in SoFi Technologies by 6.9% in the 3rd quarter. Harbour Investments Inc. now owns 57,640 shares of the company's stock valued at $461,000 after purchasing an additional 3,727 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.