SoFi Technologies (NASDAQ:SOFI) Shares Down 3.1%

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were down 3.1% on Tuesday . The company traded as low as $6.75 and last traded at $6.86. Approximately 20,287,814 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 45,790,559 shares. The stock had previously closed at $7.08.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. BTIG Research initiated coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating for the company. Keefe, Bruyette & Woods lowered their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Barclays reduced 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 research note on Tuesday, July 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and a consensus target price of $9.14.

SoFi Technologies Trading Up 3.7 %

The company has a market cap of $7.73 billion, a P/E ratio of -23.58, a PEG ratio of 1.42 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $7.15 and its two-hundred day moving average is $7.18.

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

Insider Transactions at SoFi Technologies

In other news, CEO Anthony Noto purchased 30,715 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $6.48 per share, with a total value of $199,033.20. Following the completion of the transaction, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at approximately $52,629,549.12. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony Noto purchased 30,715 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $6.48 per share, for a total transaction of $199,033.20. Following the completion of the acquisition, the chief executive officer now directly owns 8,121,844 shares in the company, valued at approximately $52,629,549.12. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in SoFi Technologies by 24.4% in the fourth quarter. Victory Capital Management Inc. now owns 119,488 shares of the company’s stock valued at $1,189,000 after purchasing an additional 23,436 shares in the last quarter. M&T Bank Corp raised its stake in SoFi Technologies by 56.3% during the 4th quarter. M&T Bank Corp now owns 44,260 shares of the company’s stock worth $440,000 after buying an additional 15,946 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in SoFi Technologies by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock worth $54,659,000 after acquiring an additional 199,949 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in SoFi Technologies in the fourth quarter valued at approximately $149,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $38,595,000. Institutional investors own 38.43% of the company’s stock.

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.