SoFi Technologies (NASDAQ:SOFI) Trading Down 0.6%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 0.6% during mid-day trading on Monday . The company traded as low as $6.54 and last traded at $6.60. 6,286,695 shares traded hands during trading, a decline of 87% from the average session volume of 46,680,004 shares. The stock had previously closed at $6.64.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SOFI shares. BTIG Research began coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods decreased their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Wednesday, July 31st. Barclays decreased their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.20.

SoFi Technologies Price Performance

The business’s 50-day simple moving average is $6.84 and its two-hundred day simple moving average is $7.30. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of -21.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Anthony Noto bought 30,715 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $6.48 per share, for a total transaction of $199,033.20. Following the acquisition, the chief executive officer now directly owns 8,121,844 shares of the company’s stock, valued at approximately $52,629,549.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SOFI. CIBC Private Wealth Group LLC raised its stake in SoFi Technologies by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after purchasing an additional 1,498 shares during the period. EP Wealth Advisors LLC grew its holdings in SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after buying an additional 1,508 shares in the last quarter. River Street Advisors LLC raised its position in shares of SoFi Technologies by 4.5% during the fourth quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock valued at $352,000 after buying an additional 1,526 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in shares of SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after acquiring an additional 1,713 shares during the last quarter. 38.43% of the stock is owned by 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.