SoFi Technologies (NASDAQ:SOFI) Shares Down 1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 1% during trading on Monday . The stock traded as low as $7.17 and last traded at $7.21. Approximately 7,851,792 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 52,300,258 shares. The stock had previously closed at $7.28.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of research analyst reports. Morgan Stanley reissued an "underweight" rating and issued a $6.50 target price (down previously from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an "underperform" rating to a "market perform" rating and increased their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a report on Tuesday, April 30th. Three investment 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $9.08.

SoFi Technologies Stock Performance

The company has a market cap of $7.60 billion, a PE ratio of -23.26 and a beta of 1.75. The stock has a 50 day simple moving average of $7.28 and a two-hundred day simple moving average of $7.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm's revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Anthony Noto purchased 28,775 shares of the business's stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the acquisition, the chief executive officer now directly owns 8,033,369 shares of the company's stock, valued at approximately $55,430,246.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 stock was 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 of the company's stock, valued at $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Noto purchased 28,775 shares of the business's stock in a transaction dated Friday, May 3rd. The shares were purchased 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 directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company's stock valued at $604,632,000 after acquiring an additional 1,366,271 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in 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 worth $78,601,000 after buying an additional 6,870,610 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company's stock valued at $78,494,000 after buying an additional 6,870,610 shares during the period. Norges Bank acquired a new position in shares of SoFi Technologies during the 4th quarter valued at about $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 3.8% during 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 period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.