SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 2.7% during mid-day trading on Monday . The stock traded as high as $7.79 and last traded at $7.72. 10,365,849 shares were traded during trading, a decline of 77% from the average session volume of 46,000,395 shares. The stock had previously closed at $7.52.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on SOFI. BTIG Research began coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They set a "neutral" rating on the stock. Wedbush reaffirmed an "underperform" rating and set a $3.00 price target on shares of SoFi Technologies in a research note on Tuesday, April 30th. Barclays dropped their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 9th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and an average target price of $9.14.
Check Out Our Latest Research Report on SOFI
SoFi Technologies Stock Up 2.0 %
The business's fifty day moving average price is $6.90 and its 200 day moving average price is $7.24. The company has a market capitalization of $8.11 billion, a P/E ratio of -24.74, a P/E/G ratio of 1.45 and a beta of 1.70. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (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 2.30%. The firm had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same period last year, the firm posted ($0.06) EPS. The firm's quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.
Insider Activity at SoFi Technologies
In related news, CEO Anthony Noto purchased 30,715 shares of the business's stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $6.48 per share, with a total value of $199,033.20. Following the completion of the purchase, the chief executive officer now owns 8,121,844 shares in the company, valued at approximately $52,629,549.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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 shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares of the company's stock, valued at $830,594.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony Noto acquired 30,715 shares of the business's stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $6.48 per share, for a total transaction of $199,033.20. Following the transaction, 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. Over the last 90 days, insiders sold 19,921,285 shares of company stock worth $135,057,462. 2.60% of the stock is currently owned by company insiders.
Institutional Trading of SoFi Technologies
Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth $27,000. ORG Partners LLC bought a new stake in shares of SoFi Technologies in the first quarter worth $27,000. Allspring Global Investments Holdings LLC raised its position in SoFi Technologies by 55.3% during 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 in the last quarter. SOA Wealth Advisors LLC. raised its position in 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 acquiring an additional 1,713 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in SoFi Technologies during the first quarter worth $37,000. Institutional investors own 38.43% of the company's stock.
About SoFi Technologies
(Get Free Report)
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.
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