SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price shot up 1.5% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $14.00 to $20.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as high as $22.02 and last traded at $21.71. 16,688,646 shares were traded during mid-day trading, a decline of 69% from the average session volume of 53,297,329 shares. The stock had previously closed at $21.39.
Several other brokerages have also issued reports on SOFI. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. JMP Securities reissued a "market perform" rating and issued a $17.00 target price on shares of SoFi Technologies in a research report on Monday. Stephens assumed coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. Finally, Cowen assumed coverage on SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.78.
Check Out Our Latest Report on SOFI
Insider Transactions at SoFi Technologies
In other news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer owned 724,321 shares in the company, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,095 shares of company stock worth $3,939,168 in the last ninety days. Insiders own 2.60% of the company's stock.
Hedge Funds Weigh In On SoFi Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the company. Berkshire Capital Holdings Inc. grew its holdings in SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after purchasing an additional 620,800 shares during the period. CMG Global Holdings LLC grew its holdings in SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after purchasing an additional 61,443 shares during the period. Geode Capital Management LLC grew its holdings in SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the period. MFG Wealth Management Inc. grew its holdings in SoFi Technologies by 27.7% during the first quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company's stock valued at $1,818,000 after purchasing an additional 33,887 shares during the period. Finally, Sowell Financial Services LLC bought a new stake in SoFi Technologies during the first quarter valued at about $259,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.
SoFi Technologies Stock Down 1.3%
The company has a fifty day simple moving average of $15.83 and a 200-day simple moving average of $14.35. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.11 billion, a P/E ratio of 53.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.91.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.
SoFi Technologies Company Profile
(
Get Free Report)
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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