SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 3.1% during mid-day trading on Wednesday . The stock traded as high as $14.91 and last traded at $14.84. 25,637,341 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 49,260,897 shares. The stock had previously closed at $14.39.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on SOFI shares. Barclays increased their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group increased their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Citizens Jmp began coverage on SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price on the stock. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.73.
Read Our Latest Report on SOFI
SoFi Technologies Stock Down 5.4%
The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $15.57 billion, a PE ratio of 38.08, a P/E/G ratio of 2.24 and a beta of 1.82. The stock has a 50-day moving average of $12.79 and a 200 day moving average of $13.97.
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, topping analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
Insiders Place Their Bets
In related news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $13.95, for a total transaction of $1,215,603.00. Following the transaction, the director now directly owns 376,398 shares of the company's stock, valued at approximately $5,250,752.10. This trade represents a 18.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the transaction, the executive vice president now directly owns 215,029 shares in the company, valued at approximately $2,302,960.59. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,787 shares of company stock worth $3,753,076 in the last ninety days. 2.60% of the stock is currently owned by insiders.
Institutional Investors Weigh In On SoFi Technologies
Hedge funds have recently made changes to their positions in the business. Berkshire Capital Holdings Inc. boosted its stake in shares of SoFi Technologies by 6,208,000.0% in the 4th 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 in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $3,703,000. Highview Capital Management LLC DE purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $1,152,000. Midwest Professional Planners LTD. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $836,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of SoFi Technologies by 47.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company's stock valued at $5,628,000 after purchasing an additional 118,288 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.
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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