SoFi Technologies (NASDAQ:SOFI) Shares Down 1.4%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price traded down 1.4% during mid-day trading on Wednesday . The stock traded as low as $7.59 and last traded at $7.78. 15,192,791 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 54,394,770 shares. The stock had previously closed at $7.89.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Mizuho dropped their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, January 18th. The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 30th. Morgan Stanley reissued an "underweight" rating and issued a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Finally, Wedbush reaffirmed an "underperform" rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. 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 stock. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average target price of $9.08.

SoFi Technologies Trading Down 4.2 %

The stock has a market capitalization of $7.38 billion, a P/E ratio of -19.89 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The business's 50 day simple moving average is $7.80 and its 200-day simple moving average is $7.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (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 for the quarter, compared to analysts' expectations of $572.02 million. During the same period last year, the firm earned ($0.05) earnings per share. The business's revenue for the quarter was up 34.7% on a year-over-year basis. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.07 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction 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 transaction, the chief technology officer now directly 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 SEC, which is available at the SEC website. Insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SOFI. SOA Wealth Advisors LLC. lifted its position in SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company's stock valued at $33,000 after acquiring an additional 1,713 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in SoFi Technologies by 16.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 14,500 shares of the company's stock valued at $107,000 after acquiring an additional 2,000 shares in the last quarter. Moseley Investment Management Inc. lifted its position in SoFi Technologies by 15.1% in the 1st quarter. Moseley Investment Management Inc. now owns 30,680 shares of the company's stock valued at $224,000 after acquiring an additional 4,021 shares in the last quarter. Strategic Advocates LLC lifted its position in SoFi Technologies by 10.8% in the 1st quarter. Strategic Advocates LLC now owns 72,430 shares of the company's stock valued at $529,000 after acquiring an additional 7,088 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in SoFi Technologies in the 1st quarter valued at $78,000. 38.43% of the stock is owned by institutional investors.

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.