SoFi Technologies, Inc. (NASDAQ:SOFI) Sees Significant Decrease in Short Interest

SoFi Technologies, Inc. (NASDAQ:SOFI) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 171,640,000 shares, a decline of 18.2% from the March 15th total of 209,900,000 shares. Based on an average trading volume of 55,060,000 shares, the days-to-cover ratio is currently 3.1 days. Currently, 19.0% of the shares of the stock are short sold.

SoFi Technologies Stock Down 4.1 %

Shares of NASDAQ:SOFI opened at $7.33 on Monday. The company has a market capitalization of $7.16 billion, a PE 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 business has a fifty day moving average price of $7.79 and a two-hundred day moving average price of $7.93. SoFi Technologies has a 1 year low of $4.45 and a 1 year high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Analysts forecast that SoFi Technologies will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

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 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 this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after purchasing an additional 2,567,797 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of SoFi Technologies by 102.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after acquiring an additional 250,854 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of SoFi Technologies by 202.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock worth $120,000 after acquiring an additional 10,013 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of SoFi Technologies by 24.9% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 22,542 shares of the company’s stock worth $180,000 after acquiring an additional 4,491 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. grew its stake in shares of SoFi Technologies by 18.0% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after acquiring an additional 59,412 shares during the period. Institutional investors own 38.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SOFI shares. Morgan Stanley restated an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Citigroup started coverage on SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Jefferies Financial Group reduced their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Mizuho reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.08.

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.