SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.2%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were up 3.2% during mid-day trading on Friday . The company traded as high as $7.38 and last traded at $7.35. Approximately 14,362,248 shares were traded during trading, a decline of 73% from the average daily volume of 52,518,359 shares. The stock had previously closed at $7.12.

Analyst Ratings Changes

A number of research firms have recently commented on SOFI. Citigroup assumed coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a "buy" rating and a $11.00 price objective on the stock. Jefferies Financial Group reduced their price objective on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. 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. Finally, Wedbush reiterated an "underperform" rating and issued a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.08.

SoFi Technologies Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The company has a market cap of $7.11 billion, a price-to-earnings ratio of -23.48 and a beta of 1.75. The business has a 50 day simple moving average of $7.29 and a 200 day simple moving average of $7.83.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The business's revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the company's 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 transaction, the chief technology officer now owns 390,616 shares of the company's stock, valued at $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the company's 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 transaction, the chief technology officer now owns 390,616 shares of the company's stock, valued at $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Noto purchased 28,775 shares of the business's stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following 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 disclosure for this purchase can be found here. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in SoFi Technologies in the fourth quarter valued at about $27,000. ORG Partners LLC acquired a new position in SoFi Technologies in the first quarter valued at about $27,000. Westside Investment Management Inc. lifted its stake in SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company's stock valued at $31,000 after buying an additional 1,500 shares during the period. SOA Wealth Advisors LLC. lifted its stake in SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company's stock valued at $33,000 after buying an additional 1,713 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies in the first quarter valued at about $37,000. Institutional investors and hedge funds 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.