SoFi Technologies (NASDAQ:SOFI) Stock Price Down 2.9%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded down 2.9% during mid-day trading on Thursday . The stock traded as low as $7.26 and last traded at $7.38. Approximately 16,607,039 shares traded hands during trading, a decline of 68% from the average session volume of 51,908,938 shares. The stock had previously closed at $7.60.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on SoFi Technologies in a report on Wednesday, January 10th. They issued a “hold” rating and a $11.00 target price on the stock. Needham & Company LLC began coverage on shares of SoFi Technologies in a research note on Wednesday, April 3rd. They set a “buy” rating and a $10.00 price target on the stock. Wedbush reiterated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $9.08.

SoFi Technologies Price Performance

The stock has a market capitalization of $7.41 billion, a P/E ratio of -19.42 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The company’s 50 day simple moving average is $7.67 and its two-hundred day simple moving average is $7.90.

SoFi Technologies (NASDAQ:SOFI) last issued 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 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) EPS. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the business’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 completion of the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedmont Private Capital raised its holdings in SoFi Technologies by 13.2% during the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock worth $120,000 after buying an additional 1,411 shares during the period. Oppenheimer & Co. Inc. boosted its stake in SoFi Technologies by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company’s stock worth $1,536,000 after purchasing an additional 1,413 shares during the period. CIBC Private Wealth Group LLC increased its holdings 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 worth $655,000 after purchasing an additional 1,498 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in shares of SoFi Technologies by 0.4% in the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,508 shares in the last quarter. 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.