SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) fell 0.1% during trading on Tuesday . The company traded as low as $6.97 and last traded at $7.11. 11,056,407 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 53,453,008 shares. The stock had previously closed at $7.12.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SOFI. The Goldman Sachs Group boosted their price objective 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 restated an "underweight" rating and set a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Jefferies Financial Group lowered their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 26th. Needham & Company LLC initiated coverage on shares of SoFi Technologies in a report on Wednesday, April 3rd. They set a "buy" rating and a $10.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of SoFi Technologies in a report on Wednesday, January 10th. They set a "hold" rating and a $11.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $9.08.

SoFi Technologies Stock Performance

The company's fifty day simple moving average is $7.78 and its 200 day simple moving average is $7.92. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of -19.16 and a beta of 1.75. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $615.40 million during the quarter, compared to analysts' expectations of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. SoFi Technologies's quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 56,273 shares of the business's 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 of the company's stock, valued at $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in SoFi Technologies by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock worth $810,527,000 after purchasing an additional 5,057,233 shares during the period. BlackRock Inc. lifted its position in SoFi Technologies by 6.4% during the second quarter. BlackRock Inc. now owns 38,122,793 shares of the company's stock worth $317,944,000 after purchasing an additional 2,302,565 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in SoFi Technologies during the fourth quarter worth about $83,643,000. State Street Corp lifted its position in SoFi Technologies by 12.9% during the second quarter. State Street Corp now owns 13,680,519 shares of the company's stock worth $114,096,000 after purchasing an additional 1,567,782 shares during the period. Finally, Geode Capital Management LLC lifted its position in SoFi Technologies by 4.2% during the first quarter. Geode Capital Management LLC now owns 12,051,675 shares of the company's stock worth $73,154,000 after purchasing an additional 484,530 shares during the period. 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.