SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus Rating of “Reduce” from Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned a consensus recommendation of “Reduce” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.13.

A number of analysts recently issued reports on SOFI shares. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Needham & Company LLC raised their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th.

Insider Activity at SoFi Technologies

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. The trade was a 197.36 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at $1,576,823.08. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,009,264 shares of company stock valued at $416,889,795. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after buying an additional 809 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares in the last quarter. CIBC Asset Management Inc lifted its stake in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its holdings in SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the period. Finally, Stratos Wealth Advisors LLC increased its stake in SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Stock Down 2.4 %

Shares of SOFI opened at $14.55 on Friday. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. The company’s fifty day moving average is $14.83 and its two-hundred day moving average is $10.24. The firm has a market cap of $15.79 billion, a PE ratio of 145.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. Analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current year.

About SoFi Technologies

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.