SoFi Technologies (NASDAQ:SOFI) Stock Price Up 4.2%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 4.2% during trading on Wednesday . The stock traded as high as $6.70 and last traded at $6.70. 9,528,591 shares traded hands during trading, a decline of 80% from the average session volume of 47,103,504 shares. The stock had previously closed at $6.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. BTIG Research began coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.20.

SoFi Technologies Stock Down 0.9 %

The firm has a market cap of $6.73 billion, a P/E ratio of -21.00, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. The stock’s fifty day moving average is $6.86 and its two-hundred day moving average is $7.33. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the transaction, the chief technology officer now owns 453,464 shares in the company, valued at $2,906,704.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Noto acquired 28,900 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the transaction, 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. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $27,000. ORG Partners LLC purchased a new position in shares of SoFi Technologies in the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. SOA Wealth Advisors LLC. grew its position in shares of SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of SoFi Technologies during the first quarter valued at approximately $37,000. 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.