SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was down 0.9% during mid-day trading on Monday . The stock traded as low as $13.60 and last traded at $14.02. Approximately 12,458,609 shares changed hands during trading, a decline of 67% from the average daily volume of 37,456,730 shares. The stock had previously closed at $14.15.
Analyst Upgrades and Downgrades
SOFI has been the subject of several recent analyst reports. William Blair began coverage on SoFi Technologies in a research report on Wednesday. They set an "outperform" rating for the company. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Barclays increased their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Mizuho lifted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $11.71.
View Our Latest Report on SoFi Technologies
SoFi Technologies Trading Up 7.0 %
The firm has a market cap of $16.83 billion, a PE ratio of 155.12, a PEG ratio of 2.70 and a beta of 1.78. The firm has a fifty day simple moving average of $15.08 and a two-hundred day simple moving average of $10.49. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The firm's revenue for the quarter was up 29.8% compared to the same quarter last year. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.
Insiders Place Their Bets
In related news, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares of the company's stock, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,009,264 shares of company stock worth $416,889,795. Company insiders own 2.60% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in SoFi Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies in the third quarter worth $28,000. FNY Investment Advisers LLC boosted its position in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies in the 3rd quarter worth about $47,000. 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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