SoFi Technologies (NASDAQ:SOFI) Shares Down 1.8%

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report)’s stock price was down 1.8% on Monday . The stock traded as low as $7.12 and last traded at $7.17. Approximately 11,842,260 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 55,719,820 shares. The stock had previously closed at $7.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SOFI shares. Mizuho decreased their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Wednesday, March 6th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft started 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. Finally, Needham & Company LLC began coverage on shares of SoFi Technologies in a research note on Wednesday. They set a “buy” rating and a $10.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.03.

Get Our Latest Report on SOFI

SoFi Technologies Stock Performance

The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average is $7.86 and its two-hundred day moving average is $7.95. The stock has a market capitalization of $7.10 billion, a PE ratio of -18.95 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last posted its quarterly earnings data on Monday, January 29th. The company reported $0.02 EPS for the quarter. The company had revenue of $615.40 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.07 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction 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 sale, 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. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently made changes to their positions in SOFI. Fairfield Bush & CO. raised its holdings in shares of SoFi Technologies by 41.6% in the first quarter. Fairfield Bush & CO. now owns 16,000 shares of the company’s stock valued at $151,000 after acquiring an additional 4,700 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in SoFi Technologies by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 1,266,962 shares of the company’s stock valued at $11,973,000 after acquiring an additional 22,288 shares in the last quarter. US Bancorp DE boosted its stake in SoFi Technologies by 197.0% in the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in SoFi Technologies in the first quarter valued at approximately $435,000. Finally, Cibc World Market Inc. boosted its stake in SoFi Technologies by 4.7% in the first quarter. Cibc World Market Inc. now owns 54,765 shares of the company’s stock valued at $518,000 after acquiring an additional 2,454 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

About SoFi Technologies

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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.

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