SoFi Technologies (NASDAQ:SOFI) Coverage Initiated by Analysts at Truist Financial

Analysts at Truist Financial began coverage on shares of SoFi Technologies (NASDAQ:SOFI - Get Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a "hold" rating and a $14.00 price target on the stock.

A number of other brokerages have also recently issued reports on SOFI. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. JMP Securities started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. UBS Group lifted their price target on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Citizens Jmp initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.36.

SoFi Technologies Trading Up 4.0%

Shares of SoFi Technologies stock traded up $0.54 on Monday, reaching $14.00. 53,910,618 shares of the company's stock were exchanged, compared to its average volume of 53,691,828. The company has a market capitalization of $15.48 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm's 50-day moving average is $12.29 and its two-hundred day moving average is $14.02.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. During the same period last year, the company posted $0.02 earnings per share. The business's quarterly revenue was up 32.7% on a year-over-year basis. Sell-side analysts predict that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kelli Keough sold 11,520 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total value of $154,137.60. Following the completion of the sale, the executive vice president now directly owns 203,509 shares of the company's stock, valued at approximately $2,722,950.42. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,507 shares of company stock valued at $1,283,528. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of SOFI. Vanguard Group Inc. raised its stake in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after buying an additional 1,130,250 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of SoFi Technologies in the 4th quarter worth about $299,980,000. Geode Capital Management LLC boosted its stake 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 purchasing an additional 315,899 shares in the last quarter. Norges Bank purchased a new stake in SoFi Technologies during the 4th quarter valued at about $103,678,000. Finally, Charles Schwab Investment Management Inc. increased its stake in SoFi Technologies by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock valued at $75,278,000 after purchasing an additional 159,109 shares in the last quarter. Hedge funds and other 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.