SoFi Technologies (NASDAQ:SOFI) Trading 1.5% Higher

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 1.5% on Wednesday . The company traded as high as $7.36 and last traded at $7.31. 10,422,979 shares changed hands during trading, a decline of 82% from the average session volume of 56,472,578 shares. The stock had previously closed at $7.20.

Analyst Ratings Changes

SOFI has been the topic of a number of recent analyst reports. Wedbush reiterated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. Jefferies Financial Group cut their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley restated an “underweight” rating and set a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $6.50 target price (down from $7.50) on shares of SoFi Technologies in a research report on Wednesday, January 3rd. Finally, Mizuho decreased their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $8.97.

SoFi Technologies Stock Down 0.8 %

The company has a fifty day moving average price of $7.88 and a two-hundred day moving average price of $8.00. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. SoFi Technologies’s revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) EPS. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $83,643,000. Norges Bank purchased a new stake in SoFi Technologies during the fourth quarter valued at about $44,799,000. State Street Corp boosted its holdings in shares of SoFi Technologies by 76.6% in the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock worth $61,590,000 after buying an additional 5,068,034 shares during the period. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $38,595,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.