SoFi Technologies (NASDAQ:SOFI) Rating Lowered to "Market Perform" at Citizens Jmp

SoFi Technologies (NASDAQ:SOFI - Get Free Report) was downgraded by investment analysts at Citizens Jmp from a "strong-buy" rating to a "market perform" rating in a report issued on Monday, Marketbeat.com reports.

Other research analysts have also issued research reports about the company. Barclays increased their price target on SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a report on Wednesday, April 30th. TD Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 price target for the company. UBS Group raised their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group started coverage on SoFi Technologies in a report on Monday. They issued a "neutral" rating and a $19.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies has an average rating of "Hold" and an average target price of $16.78.

SoFi Technologies Trading Up 2.7%

Shares of SoFi Technologies stock traded up $0.59 on Monday, hitting $21.98. 30,847,739 shares of the company's stock traded hands, compared to its average volume of 53,354,584. The company has a fifty day moving average of $15.65 and a two-hundred day moving average of $14.31. SoFi Technologies has a one year low of $6.01 and a one year high of $22.13. The company has a market capitalization of $24.29 billion, a price-to-earnings ratio of 53.60, a price-to-earnings-growth ratio of 3.51 and a beta of 1.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. During the same period in the prior year, the business earned $0.02 EPS. The company's revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, sell-side analysts expect that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction that occurred on Friday, June 20th. The shares were 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 directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,095 shares of company stock worth $3,939,168. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Berkshire Capital Holdings Inc. raised its position in shares of SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after buying an additional 620,800 shares in the last quarter. CMG Global Holdings LLC grew its holdings in shares of SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after purchasing an additional 61,443 shares in the last quarter. Geode Capital Management LLC increased its position in shares of SoFi Technologies by 1.8% in the fourth 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 during the last quarter. Sowell Financial Services LLC bought a new stake in SoFi Technologies during the first quarter valued at approximately $259,000. Finally, MFG Wealth Management Inc. lifted its holdings in shares of SoFi Technologies by 27.7% during the 1st quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company's stock worth $1,818,000 after acquiring an additional 33,887 shares during the last quarter. 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.