SoFi Technologies (NASDAQ:SOFI) Shares Down 0.9%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price fell 0.9% on Wednesday . The stock traded as low as $7.50 and last traded at $7.51. 12,186,032 shares were traded during trading, a decline of 77% from the average session volume of 52,017,027 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SOFI. Citigroup assumed coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a "buy" rating and a $11.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on SoFi Technologies in a research note on Wednesday, January 10th. They set a "hold" rating and a $11.00 price objective for the company. The Goldman Sachs Group boosted their target price 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. Wedbush reiterated an "underperform" rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Wednesday, March 6th. Finally, Needham & Company LLC began coverage on SoFi Technologies in a report on Wednesday, April 3rd. They issued a "buy" rating and a $10.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average target price of $9.08.

SoFi Technologies Stock Up 0.3 %

The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The firm has a market cap of $7.42 billion, a P/E ratio of -20.00 and a beta of 1.75. The firm's 50 day moving average is $7.67 and its two-hundred day moving average is $7.90.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Monday, January 29th. The company reported $0.02 EPS for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business had revenue of $615.40 million during the quarter, compared to analysts' expectations of $572.02 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm's quarterly revenue was up 34.7% on a year-over-year basis. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently made changes to their positions in SOFI. Wedmont Private Capital raised 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 purchasing an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of SoFi Technologies by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company's stock worth $1,536,000 after purchasing an additional 1,413 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of 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 purchasing an additional 1,498 shares during the period. Westside Investment Management Inc. grew its holdings in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company's stock worth $31,000 after purchasing an additional 1,500 shares during the period. Finally, EP Wealth Advisors LLC increased its position in SoFi Technologies by 0.4% during the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company's stock worth $3,751,000 after buying an additional 1,508 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

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.