SoFi Technologies (NASDAQ:SOFI) Trading Down 0.8%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded down 0.8% during trading on Monday . The stock traded as low as $7.30 and last traded at $7.35. 13,908,169 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 46,352,227 shares. The stock had previously closed at $7.41.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wedbush reiterated an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. BTIG Research assumed coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Citigroup assumed coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Finally, Keefe, Bruyette & Woods dropped their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $9.44.

SoFi Technologies Stock Performance

The business’s 50-day simple moving average is $6.86 and its two-hundred day simple moving average is $7.36. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of -23.71, a P/E/G ratio of 1.72 and a beta of 1.70. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The company’s revenue was up 26.2% compared to the same quarter last year. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the sale, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Noto bought 28,775 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The disclosure for this purchase can be found here. Insiders purchased a total of 88,390 shares of company stock worth $597,569 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at approximately $27,000. ORG Partners LLC acquired a new stake in SoFi Technologies in the 1st quarter valued at approximately $27,000. Tortoise Investment Management LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at approximately $39,000. Vermillion & White Wealth Management Group LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at approximately $40,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.