SoFi Technologies (NASDAQ:SOFI) Trading 0.9% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 0.9% during mid-day trading on Friday . The stock traded as high as $7.82 and last traded at $7.66. Approximately 19,612,724 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 51,893,441 shares. The stock had previously closed at $7.59.

Analyst Ratings Changes

A number of analysts have recently commented on SOFI shares. Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Wednesday, March 6th. Mizuho cut their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Citigroup initiated coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Morgan Stanley reissued an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Finally, Needham & Company LLC initiated coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They set a “buy” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.08.

SoFi Technologies Trading Up 3.7 %

The company has a 50-day moving average of $7.64 and a 200 day moving average of $7.90. 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 has a market cap of $7.69 billion, a PE ratio of -20.71 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 29th. The company reported $0.02 earnings per share 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 for 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 company’s revenue for the quarter was up 34.7% compared to the same quarter last year. Analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after buying an additional 2,567,797 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in SoFi Technologies by 102.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after purchasing an additional 250,854 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in SoFi Technologies by 202.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock valued at $120,000 after purchasing an additional 10,013 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its stake in shares of SoFi Technologies by 18.0% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after buying an additional 59,412 shares during the period. Finally, Hartline Investment Corp grew its holdings in shares of SoFi Technologies by 3.4% during the third quarter. Hartline Investment Corp now owns 865,756 shares of the company’s stock valued at $6,917,000 after buying an additional 28,115 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.