SoFi Technologies, Inc. (NASDAQ:SOFI) Given Average Rating of “Hold” by Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been given an average recommendation of “Hold” by the fourteen brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.14.

A number of brokerages recently commented on SOFI. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays cut their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, BTIG Research started coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,921,285 shares of company stock worth $135,057,462. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after purchasing an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after buying an additional 690,638 shares in the last quarter. Nikko Asset Management Americas Inc. grew 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 worth $78,494,000 after acquiring an additional 6,870,610 shares in the last quarter. Finally, Norges Bank bought a new position in SoFi Technologies in the fourth quarter valued at $71,349,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $7.01 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The company has a fifty day moving average price of $7.11 and a 200-day moving average price of $7.20. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $10.49. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of -22.61, a PEG ratio of 1.62 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same quarter last year, the business posted ($0.06) EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that SoFi Technologies will post 0.1 EPS for the current fiscal year.

SoFi Technologies Company Profile

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.