SoFi Technologies (NASDAQ:SOFI) Trading Down 2.5%

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were down 2.5% during trading on Wednesday . The stock traded as low as $7.21 and last traded at $7.28. Approximately 19,500,712 shares were traded during trading, a decline of 63% from the average daily volume of 53,026,766 shares. The stock had previously closed at $7.47.

Analysts Set New Price Targets

Several research analysts have recently commented on SOFI shares. Wedbush restated an "underperform" rating and set a $3.00 price target on shares of SoFi Technologies in a research note on Tuesday, April 30th. Mizuho dropped their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, January 18th. Citigroup began coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They set a "buy" rating and a $11.00 price target on the stock. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an "underperform" rating to a "market perform" rating and raised their target price for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and an average target price of $9.08.

SoFi Technologies Stock Performance

The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -23.45 and a beta of 1.75. The stock's 50-day simple moving average is $7.30 and its 200 day simple moving average is $7.84. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The business had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same period in the previous year, the business earned ($0.05) EPS. SoFi Technologies's revenue was up 26.2% compared to the same quarter last year. Analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CEO Anthony Noto acquired 28,775 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the transaction, the chief executive officer now directly owns 8,033,369 shares of the company's stock, valued at approximately $55,430,246.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Anthony Noto bought 28,775 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $6.90 per share, with a total value of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares of the company's stock, valued at $55,430,246.10. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares of the company's stock, valued at $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in shares of SoFi Technologies in the 4th quarter worth $27,000. Westside Investment Management Inc. boosted its position in shares of SoFi Technologies by 93.8% in the 4th 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 last quarter. ORG Partners LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth $27,000. Tortoise Investment Management LLC bought a new position in shares of SoFi Technologies in the 4th quarter worth $39,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of SoFi Technologies in the 4th quarter worth $40,000. 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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