SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.3%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 0.3% on Monday . The stock traded as high as $7.23 and last traded at $7.13. 8,982,440 shares were traded during trading, a decline of 83% from the average session volume of 52,408,977 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Jefferies Financial Group decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research report on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of SoFi Technologies in a research note on Wednesday, January 10th. They set a “hold” rating and a $11.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $9.08.

SoFi Technologies Trading Up 4.6 %

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 of $7.69 and a 200-day moving average of $7.90.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 EPS for the quarter. The firm had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Advisor Solutions LLC raised 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 purchasing an additional 4,491 shares during the period. AE Wealth Management LLC boosted its stake in SoFi Technologies by 21.5% in the third quarter. AE Wealth Management LLC now owns 111,637 shares of the company’s stock valued at $892,000 after acquiring an additional 19,766 shares during the last quarter. DnB Asset Management AS bought a new position in shares of SoFi Technologies during the 3rd quarter valued at approximately $789,000. SG Americas Securities LLC increased its stake in shares of SoFi Technologies by 23.5% during the 3rd quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock worth $275,000 after purchasing an additional 6,548 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased 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 purchasing an additional 10,013 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.