SoFi Technologies (NASDAQ:SOFI) Shares Down 2%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 2% on Friday . The company traded as low as $7.45 and last traded at $7.49. 8,355,966 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 53,929,816 shares. The stock had previously closed at $7.64.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several research analyst reports. Mizuho lowered their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Needham & Company LLC assumed coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target on the stock. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price target for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Performance

The company has a market cap of $7.16 billion, a price-to-earnings ratio of -19.29 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 stock has a 50-day moving average price of $7.79 and a 200 day moving average price of $7.93.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results 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 business had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. During the same quarter last year, the firm earned ($0.05) EPS. SoFi Technologies’s revenue for the quarter was up 34.7% compared to the same quarter last year. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in SOFI. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies during the 4th quarter valued at $27,000. US Bancorp DE grew its position in shares of SoFi Technologies by 197.0% in the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after buying an additional 2,000 shares during the last quarter. Westside Investment Management Inc. grew its position 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 buying an additional 1,500 shares during the last quarter. SOA Wealth Advisors LLC. boosted its position in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in shares of SoFi Technologies during the 1st quarter valued at about $36,000. 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.