SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.2%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded down 1.2% during mid-day trading on Thursday . The company traded as low as $7.43 and last traded at $7.47. 9,318,849 shares traded hands during trading, a decline of 83% from the average session volume of 54,311,383 shares. The stock had previously closed at $7.56.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price objective 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. Needham & Company LLC started coverage on shares of SoFi Technologies in a research note on Wednesday, April 3rd. They issued a "buy" rating and a $10.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 30th. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday. They issued a "buy" rating and a $11.00 price target on the stock. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and a consensus target price of $9.08.

SoFi Technologies Price Performance

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 company's 50-day simple moving average is $7.80 and its 200-day simple moving average is $7.93. The stock has a market capitalization of $7.46 billion, a P/E ratio of -19.84 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $572.02 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The company's quarterly revenue was up 34.7% compared to the same quarter last year. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $27,000. US Bancorp DE grew its stake in shares of SoFi Technologies by 197.0% in the first quarter. US Bancorp DE now owns 3,015 shares of the company's stock valued at $28,000 after acquiring an additional 2,000 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of 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 acquiring an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of 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 acquiring an additional 1,713 shares in the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in shares of SoFi Technologies in the first quarter valued at about $36,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.