SoFi Technologies (NASDAQ:SOFI) Now Covered by William Blair

William Blair initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI - Free Report) in a research note issued to investors on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating on the stock.

Several other brokerages also recently issued reports on SOFI. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Finally, Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. 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 company. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $11.71.

SoFi Technologies Stock Performance

NASDAQ SOFI traded up $1.01 during trading hours on Wednesday, hitting $15.51. The company had a trading volume of 38,619,976 shares, compared to its average volume of 39,578,398. The business has a 50 day moving average of $15.08 and a 200-day moving average of $10.49. The company has a market cap of $16.83 billion, a PE ratio of 155.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $17.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter last year, the business posted ($0.03) EPS. The firm's quarterly revenue was up 29.8% compared to the same quarter last year. As a group, equities research analysts expect that SoFi Technologies will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new position in SoFi Technologies during the third quarter worth about $28,000. FNY Investment Advisers LLC boosted its stake in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after buying an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies in the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies during the 3rd quarter valued at about $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.