SoFi Technologies (NASDAQ:SOFI) Stock Price Down 0.8%

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report)’s stock price dropped 0.8% during mid-day trading on Friday . The company traded as low as $6.38 and last traded at $6.47. Approximately 6,233,453 shares were traded during trading, a decline of 87% from the average daily volume of 47,102,926 shares. The stock had previously closed at $6.52.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of research reports. Jefferies Financial Group decreased their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. 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 target price for the company. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.32.

Get Our Latest Stock Report on SoFi Technologies

SoFi Technologies Stock Down 0.8 %

The stock has a market cap of $6.84 billion, a P/E ratio of -20.87, a P/E/G ratio of 1.51 and a beta of 1.70. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $6.83 and its 200 day moving average is $7.60.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The company had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business’s revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony Noto bought 28,900 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the purchase, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 88,390 shares of company stock worth $597,569. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after buying an additional 1,366,271 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in 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 valued at $78,601,000 after buying an additional 6,870,610 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after buying an additional 6,870,610 shares in the last quarter. Norges Bank acquired a new position in SoFi Technologies in the fourth quarter valued at about $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock worth $54,659,000 after purchasing an additional 199,949 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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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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