SoFi Technologies (NASDAQ:SOFI) Now Covered by Truist Financial

Equities researchers at Truist Financial assumed 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. Truist Financial's target price would indicate a potential upside of 4.01% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Barclays upped their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. UBS Group raised their price target on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. JMP Securities began coverage on SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective for the company. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Citizens Jmp began 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 research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.36.

SoFi Technologies Price Performance

SOFI stock traded down $0.20 during trading on Monday, hitting $13.46. The company had a trading volume of 54,280,819 shares, compared to its average volume of 48,655,552. The company has a fifty day moving average price of $12.26 and a two-hundred day moving average price of $14.02. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a market cap of $14.88 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.24 and a beta of 1.84. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the previous year, the company posted $0.02 EPS. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. Equities research analysts expect that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the transaction, the executive vice president now directly owns 203,509 shares of the company's stock, valued at $2,722,950.42. This represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,507 shares of company stock worth $1,283,528 over the last three months. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after acquiring an additional 14,281 shares during the last quarter. KBC Group NV grew its stake in SoFi Technologies by 50.6% in the fourth quarter. KBC Group NV now owns 40,715 shares of the company's stock valued at $627,000 after purchasing an additional 13,683 shares in the last quarter. OLD National Bancorp IN bought a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $209,000. Spire Wealth Management raised its stake in shares of SoFi Technologies by 7.6% during the 4th quarter. Spire Wealth Management now owns 79,376 shares of the company's stock worth $1,222,000 after purchasing an additional 5,594 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $192,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.