SoFi Technologies (NASDAQ:SOFI) Shares Down 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price dropped 0.1% during trading on Tuesday . The company traded as low as $6.97 and last traded at $7.11. Approximately 11,056,407 shares traded hands during trading, a decline of 79% from the average daily volume of 53,453,008 shares. The stock had previously closed at $7.12.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SOFI shares. Wedbush restated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price target for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Needham & Company LLC initiated coverage on SoFi Technologies in a report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Stock Up 1.1 %

The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $7.78 and a 200-day simple moving average of $7.92. The firm has a market cap of $7.03 billion, a P/E ratio of -18.71 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. During the same period in the previous year, the company posted ($0.05) EPS. The firm’s revenue was up 34.7% on a year-over-year basis. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC purchased a new position in SoFi Technologies during the fourth quarter valued at $83,643,000. Norges Bank purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $44,799,000. State Street Corp lifted its holdings in shares of SoFi Technologies by 76.6% in the 2nd quarter. State Street Corp now owns 11,686,894 shares of the company’s stock valued at $61,590,000 after acquiring an additional 5,068,034 shares during the last quarter. Vanguard Group Inc. grew its position in SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in SoFi Technologies during the fourth quarter worth approximately $38,595,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.