SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) reached a new 52-week low during trading on Friday after Bank of America lowered their price target on the stock from $14.00 to $12.00. The stock traded as low as $7.64 and last traded at $8.12, with a volume of 109106808 shares traded. The stock had previously closed at $8.75.
Other research analysts have also recently issued reports about the company. Mizuho dropped their target price on SoFi Technologies from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday. The Goldman Sachs Group began coverage on SoFi Technologies in a research report on Tuesday, January 18th. They issued a “neutral” rating and a $16.00 target price on the stock. Moffett Nathanson began coverage on SoFi Technologies in a research report on Tuesday. They issued a “buy” rating and a $13.00 target price on the stock. Oppenheimer dropped their target price on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Credit Suisse Group lowered their price objective on SoFi Technologies from $16.50 to $15.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 2nd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of “Buy” and a consensus target price of $16.12.
In related news, insider Micah Heavener sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $8.01, for a total value of $40,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony Noto purchased 15,000 shares of the stock in a transaction that occurred on Friday, March 4th. The stock was acquired at an average cost of $9.96 per share, for a total transaction of $149,400.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 97,640 shares of company stock worth $871,799. 35.10% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Mine & Arao Wealth Creation & Management LLC. increased its stake in SoFi Technologies by 40.0% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,960 shares of the company’s stock worth $32,000 after acquiring an additional 560 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in SoFi Technologies by 119.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock worth $31,000 after acquiring an additional 1,075 shares during the last quarter. Herold Advisors Inc. bought a new stake in SoFi Technologies in the 3rd quarter worth approximately $31,000. Amplius Wealth Advisors LLC bought a new stake in SoFi Technologies in the 4th quarter worth approximately $31,000. Finally, Clearstead Advisors LLC increased its stake in SoFi Technologies by 250.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,240 shares of the company’s stock worth $36,000 after acquiring an additional 1,600 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.
The company has a quick ratio of 22.93, a current ratio of 22.93 and a debt-to-equity ratio of 0.90. The stock has a 50 day simple moving average of $10.46 and a 200-day simple moving average of $14.81.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last released its earnings results on Tuesday, March 1st. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The company had revenue of $279.88 million for the quarter, compared to the consensus estimate of $279.47 million. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.85) EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post -0.36 earnings per share for the current year.
About SoFi Technologies (NASDAQ:SOFI)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company’s lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.