SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded down 1.4% on Wednesday . The stock traded as low as $14.18 and last traded at $14.09. 22,890,658 shares were traded during mid-day trading, a decline of 51% from the average session volume of 47,165,826 shares. The stock had previously closed at $14.29.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SOFI. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. Citizens Jmp began coverage on SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target for the company. UBS Group boosted their price objective on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, William Blair restated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $14.38.
Read Our Latest Analysis on SOFI
SoFi Technologies Trading Up 1.4%
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 stock has a market cap of $15.20 billion, a P/E ratio of 37.22, a P/E/G ratio of 2.24 and a beta of 1.84. The stock has a 50-day moving average price of $12.02 and a 200-day moving average price of $13.91.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $739.93 million. During the same period last year, the firm posted $0.02 earnings per share. SoFi Technologies's quarterly revenue was up 32.7% on a year-over-year basis. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
Insiders Place Their Bets
In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the business's 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 completion of the sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,172 shares of company stock valued at $1,271,115 over the last quarter. 2.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On SoFi Technologies
Hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the 4th quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. increased its stake in shares of SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC bought a new position in shares of SoFi Technologies during the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies in the first quarter worth $28,000. Finally, Hollencrest Capital Management bought a new stake in SoFi Technologies in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 38.43% of the company's stock.
About SoFi Technologies
(
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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