SoFi Technologies, Inc. (NASDAQ:SOFI) Receives $11.13 Consensus PT from Brokerages

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been assigned an average rating of “Reduce” from the thirteen ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $11.13.

A number of brokerages have commented on SOFI. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of SoFi Technologies by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company’s stock worth $20,604,000 after buying an additional 443,198 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of SoFi Technologies by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 618,955 shares of the company’s stock worth $4,091,000 after buying an additional 10,379 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of SoFi Technologies by 29.6% in the second quarter. CIBC Asset Management Inc now owns 27,447 shares of the company’s stock worth $181,000 after buying an additional 6,269 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of SoFi Technologies by 5.7% in the second quarter. Rhumbline Advisers now owns 979,183 shares of the company’s stock worth $6,472,000 after buying an additional 53,124 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Down 2.7 %

SOFI stock opened at $14.15 on Friday. The stock’s 50 day simple moving average is $14.96 and its 200 day simple moving average is $10.33. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market cap of $15.35 billion, a P/E ratio of 141.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. On average, research analysts expect that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

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.