SoFi Technologies (NASDAQ:SOFI) Trading Down 1.1%

SoFi Technologies, Inc. (NASDAQ:SOFI) fell 1.1% on Tuesday . The company traded as low as $7.36 and last traded at $7.38. 12,538,796 shares were traded during mid-day trading, a decline of 73% from the average session volume of 46,138,180 shares. The stock had previously closed at $7.46.

Analysts Set New Price Targets

SOFI has been the topic of several research analyst reports. BTIG Research began coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reduced their price target on shares of 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. Finally, Barclays lowered their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.20.

SoFi Technologies Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The business has a 50 day simple moving average of $6.85 and a 200-day simple moving average of $7.25. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of -23.32, a P/E/G ratio of 1.45 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. The firm had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. During the same period last year, the business earned ($0.06) earnings per share. SoFi Technologies’s revenue was up 20.2% compared to the same quarter last year. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SoFi Technologies 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 accessible through this hyperlink. Also, CEO Anthony Noto bought 30,715 shares of the stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $6.48 per share, with a total value of $199,033.20. Following the purchase, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at $52,629,549.12. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. GAMMA Investing LLC purchased a new position in shares of SoFi Technologies during the fourth quarter worth $27,000. ORG Partners LLC acquired a new position in SoFi Technologies during the 1st quarter worth about $27,000. Tortoise Investment Management LLC purchased a new position in SoFi Technologies during the 4th quarter valued at about $39,000. Vermillion & White Wealth Management Group LLC purchased a new position in SoFi Technologies during the 4th quarter valued at about $40,000. Finally, Allspring Global Investments Holdings LLC grew its position 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 acquiring an additional 1,543 shares in the last quarter. Hedge funds and other institutional investors 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.