SoFi Technologies (NASDAQ:SOFI) Trading Down 0.9%

SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 0.9% on Wednesday . The company traded as low as $7.50 and last traded at $7.51. Approximately 12,186,032 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 52,017,027 shares. The stock had previously closed at $7.58.

Analysts Set New Price Targets

A number of research firms have issued reports on SOFI. Wedbush reissued an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a research report on Wednesday, March 6th. Needham & Company LLC began coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They set a “buy” rating and a $10.00 price target for the company. Morgan Stanley reissued an “underweight” rating and set a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Jefferies Financial Group lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on SoFi Technologies in a research report on Wednesday, January 10th. They issued a “hold” rating and a $11.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Stock Performance

The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -19.76 and a beta of 1.75. The company has a 50-day moving average of $7.69 and a 200-day moving average of $7.90.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business’s revenue was up 34.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. GAMMA Investing LLC acquired a new stake in SoFi Technologies in the fourth quarter worth $27,000. Westside Investment Management Inc. grew its stake in shares of SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of SoFi Technologies by 61.2% in 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. Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the first quarter worth $37,000. Finally, Tortoise Investment Management LLC bought a new position in shares of SoFi Technologies in the fourth quarter worth $39,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.