SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) shares traded down 0.9% during mid-day trading on Monday . The company traded as low as $6.86 and last traded at $6.97. 23,912,435 shares changed hands during trading, a decline of 59% from the average session volume of 58,432,813 shares. The stock had previously closed at $7.03.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on SoFi Technologies in a research report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price target for the company. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $6.50 target price (down previously from $7.50) on shares of SoFi Technologies in a research report on Wednesday, January 3rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Finally, Citigroup decreased their price target on SoFi Technologies from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, November 24th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.78.
SoFi Technologies Price Performance
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 company has a market capitalization of $6.92 billion, a PE ratio of -18.34 and a beta of 1.80. The firm has a 50-day moving average of $8.01 and a 200 day moving average of $8.08.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.07 earnings per share for the current fiscal year.
Insider Transactions at SoFi Technologies
In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $9.78, for a total value of $550,349.94. Following the sale, the chief technology officer now owns 343,250 shares of the company’s stock, valued at approximately $3,356,985. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.
Hedge Funds Weigh In On SoFi Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after purchasing an additional 5,057,233 shares during the period. Creekmur Asset Management LLC purchased a new position in SoFi Technologies during the 4th quarter valued at $392,000. Tortoise Investment Management LLC purchased a new position in SoFi Technologies during the 4th quarter valued at $39,000. EP Wealth Advisors LLC boosted its holdings in SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after acquiring an additional 1,508 shares during the period. Finally, Clarity Capital Partners LLC bought a new stake in SoFi Technologies during the 4th quarter valued at $3,373,000. Hedge funds and other institutional investors own 37.13% of the company’s stock.
About SoFi Technologies
SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.