SoFi Technologies (NASDAQ:SOFI) Shares Up 0.9%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 0.9% during mid-day trading on Friday . The company traded as high as $7.82 and last traded at $7.66. 19,612,724 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 51,893,441 shares. The stock had previously closed at $7.59.

Analyst Ratings Changes

Several brokerages have recently weighed in on SOFI. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SoFi Technologies in a report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Citigroup initiated coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price objective for the company. Morgan Stanley restated an “underweight” rating and set a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Finally, Needham & Company LLC began coverage on SoFi Technologies in a report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Trading Up 3.7 %

The company has a market cap of $7.69 billion, a price-to-earnings ratio of -20.71 and a beta of 1.75. The firm’s fifty day moving average price is $7.64 and its 200-day moving average price is $7.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23.

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

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in SoFi Technologies during the 4th quarter worth about $71,349,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 6.6% during the fourth 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. Dimensional Fund Advisors LP purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $38,595,000. Finally, Nikko Asset Management Americas Inc. increased its stake in SoFi Technologies by 241.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,896,692 shares of the company’s stock valued at $38,733,000 after buying an additional 2,755,197 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.