SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 0.3% during trading on Wednesday . The stock traded as high as $7.12 and last traded at $7.10. Approximately 8,191,667 shares changed hands during trading, a decline of 84% from the average daily volume of 51,707,117 shares. The stock had previously closed at $7.08.

Analysts Set New Price Targets

A number of research firms recently issued reports on SOFI. The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, January 30th. Citigroup began coverage on SoFi Technologies in a report on Monday, April 8th. They issued a "buy" rating and a $11.00 target price for the company. Jefferies Financial Group decreased their target price on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded SoFi Technologies from an "underperform" rating to a "market perform" rating and lifted their target price for the company from $6.50 to $7.50 in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a report on Tuesday, April 30th. Three research 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $9.08.

SoFi Technologies Price Performance

The stock has a 50-day moving average price of $7.26 and a 200 day moving average price of $7.83. 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 firm has a market cap of $7.42 billion, a price-to-earnings ratio of -22.90 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity 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 sale, the chief technology officer now owns 390,616 shares of the company's stock, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief technology officer now owns 390,616 shares of the company's stock, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Noto acquired 28,775 shares of the stock in a transaction 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 acquisition, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently modified their holdings of the company. Wedmont Private Capital boosted its stake in shares of SoFi Technologies by 13.2% during the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company's stock worth $120,000 after acquiring an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in SoFi Technologies by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company's stock valued at $1,536,000 after buying an additional 1,413 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in SoFi Technologies by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company's stock valued at $655,000 after buying an additional 1,498 shares in the last quarter. Westside Investment Management Inc. lifted its stake in SoFi Technologies by 93.8% in the 4th 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 in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in SoFi Technologies by 0.4% in the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company's stock valued at $3,751,000 after buying an additional 1,508 shares in the last quarter. Hedge funds and other institutional investors 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.