Redburn Atlantic Upgrades SoFi Technologies (NASDAQ:SOFI) to "Hold"

Key Points

• Redburn Atlantic has upgraded SoFi Technologies (NASDAQ: SOFI) to a "hold" rating, indicating a cautious approach amid varied analyst opinions.
• The company's stock has seen a 6.0% decline, with current trading data showing a market cap of $23.47 billion and a consensus target price of $18.06.
• In recent insider activity, significant shares were sold by directors, with 273,181 shares worth over $4 million sold in the last ninety days, reflecting a decrease in insider ownership.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) was upgraded by analysts at Redburn Atlantic to a "hold" rating in a research note issued on Friday,Zacks.com reports.

A number of other equities analysts have also weighed in on SOFI. JMP Securities restated a "market perform" rating and issued a $17.00 target price on shares of SoFi Technologies in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a research note on Thursday, July 10th. UBS Group upped their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Stephens assumed coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price on the stock. Finally, Morgan Stanley restated an "underweight" rating and issued a $13.00 target price (up from $11.00) on shares of SoFi Technologies in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.06.

SoFi Technologies Stock Down 6.0%

SOFI stock opened at $21.23 on Friday. The stock's fifty day simple moving average is $17.59 and its two-hundred day simple moving average is $14.87. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $25.11. The stock has a market cap of $23.47 billion, a P/E ratio of 44.23, a P/E/G ratio of 2.68 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The business's revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. Analysts expect that SoFi Technologies will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. This represents a 23.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,267 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $21.80, for a total value of $223,820.60. Following the sale, the executive vice president owned 245,200 shares of the company's stock, valued at $5,345,360. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,181 shares of company stock worth $4,043,240 in the last ninety days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after buying an additional 1,130,250 shares during the period. Two Sigma Advisers LP purchased a new stake in SoFi Technologies in the 4th quarter worth approximately $299,980,000. Geode Capital Management LLC lifted its holdings in SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after buying an additional 315,899 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in SoFi Technologies by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock worth $75,278,000 after buying an additional 159,109 shares during the period. Finally, Northern Trust Corp lifted its holdings in SoFi Technologies by 22.7% in the 4th quarter. Northern Trust Corp now owns 6,052,301 shares of the company's stock worth $93,205,000 after buying an additional 1,121,550 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.

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