SoFi Technologies (NASDAQ:SOFI) Shares Up 3%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price rose 3% during trading on Tuesday . The company traded as high as $7.54 and last traded at $7.47. Approximately 11,348,558 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 52,147,652 shares. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft initiated coverage on SoFi Technologies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $11.00 price objective on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Finally, Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. 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 stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Up 0.3 %

The company has a fifty day moving average price of $7.67 and a 200 day moving average price of $7.90. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 29th. The company reported $0.02 EPS for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The firm had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly 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 fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in SoFi Technologies in the 4th quarter valued at $71,349,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares during the period. Vanguard Group Inc. grew its stake in SoFi Technologies by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the period. Dimensional Fund Advisors LP bought a new position in SoFi Technologies in the 4th quarter valued at $38,595,000. Finally, Nikko Asset Management Americas Inc. grew its stake in SoFi Technologies by 241.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,896,692 shares of the company’s stock valued at $38,733,000 after purchasing an additional 2,755,197 shares during the period. Institutional investors own 38.43% of the company’s stock.

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.