SoFi Technologies (NASDAQ:SOFI) Trading Down 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 0.1% during trading on Thursday . The stock traded as low as $6.99 and last traded at $7.04. 7,516,965 shares traded hands during trading, a decline of 86% from the average session volume of 53,232,684 shares. The stock had previously closed at $7.05.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SOFI shares. Morgan Stanley restated an "underweight" rating and set a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating on the stock in a research note on Tuesday, April 30th. Jefferies Financial Group dropped 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. Wedbush reissued an "underperform" rating and issued a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, Citigroup initiated coverage on SoFi Technologies in a research report on Monday, April 8th. They set a "buy" rating and a $11.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.08.

SoFi Technologies Stock Up 0.1 %

The company has a 50 day moving average price of $7.40 and a 200-day moving average price of $7.84. The stock has a market capitalization of $6.90 billion, a PE ratio of -22.71 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.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. During the same period in the prior year, the business earned ($0.05) EPS. The company's revenue for the quarter was up 26.2% on a year-over-year basis. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company'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 sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony Noto bought 28,775 shares of SoFi Technologies stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the acquisition, the chief executive officer now 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 owned by company insiders.

Institutional Trading of SoFi Technologies

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in SoFi Technologies by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock worth $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company's stock valued at $78,601,000 after acquiring an additional 6,870,610 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its position in SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company's stock worth $78,494,000 after buying an additional 6,870,610 shares during the last quarter. Norges Bank bought a new position in SoFi Technologies during the fourth quarter valued at $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company's stock worth $54,659,000 after acquiring an additional 199,949 shares during the last quarter. 38.43% of the stock is currently 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.

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