According to Zacks, “SoFi Technologies Inc. provides a consumer-focused financial technology platform. SoFi Technologies Inc., formerly known as Social Capital Hedosophia Holdings Corp. V, is based in PALO ALTO, California.”
Several other equity analysts have also recently weighed in on SOFI. Wedbush began coverage of SoFi Technologies in a research note on Tuesday, January 18. They set an “outperform” rating and a target price of $20.00 on the stock. Keefe, Bruyette & Woods began covering SoFi Technologies in a report on Monday, November 29. They set a “market performance” rating and a price target of $21.00 for the company. Goldman Sachs Group began covering SoFi Technologies in a report on Tuesday, January 18. They set a “neutral” rating and a price target of $16.00 for the company. Citigroup began covering SoFi Technologies in a report on Monday, December 20. They set a “buy” rating and a price target of $20.00 for the company. Finally, Morgan Stanley cut its price target on SoFi Technologies from $22.00 to $20.00 and set an “overweight” rating for the company in a Friday, January 14 report. Four equity research analysts gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $21.70.
NASDAQ: SOFI opened at $11.36 on Friday. The company has a quick ratio of 17.57, a current ratio of 17.58 and a leverage ratio of 0.65. SoFi Technologies has a fifty-two week low of $11.27 and a fifty-two week high of $28.26. The stock’s 50-day moving average is $15.15 and its two-hundred-day moving average is $16.53.
SoFi Technologies Inc (NASDAQ:SOFI) last reported results on Wednesday, November 10. The company reported ($0.05) earnings per share for the quarter, beating Thomson Reuters consensus estimate of ($0.14) by $0.09. The company posted revenue of $277.19 million for the quarter, compared to $263.16 million expected by analysts. As a group, research analysts expect SoFi Technologies to post -1.81 EPS for the current year.
In other news, Insider Micah Heavener sold 2,000 shares of the company in a transaction that took place on Thursday, January 20. The stock was sold at an average price of $15.00, for a total transaction of $30,000.00. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, Director Iv (Gp) LLC Slta sold 7,361,378 shares of the company in a trade that took place on Thursday, November 18. The shares were sold at an average price of $21.60, for a total value of $159,005,764.80. Disclosure of this sale can be found here. During the last quarter, insiders sold 17,543,508 shares of the company valued at $378,607,910. Company insiders hold 35.10% of the company’s stock.
Several institutional investors and hedge funds have recently increased or reduced their stake in the company. Mine & Arao Wealth Creation & Management LLC. increased its position in SoFi Technologies shares by 40.0% during the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,960 shares of the company valued at $32,000 after purchasing an additional 560 shares during the period. Ancora Advisors LLC increased its position in SoFi Technologies by 24.0% in the third quarter. Ancora Advisors LLC now owns 3,100 shares of the company valued at $49,000 after acquiring an additional 600 shares during the period. Tuttle Capital Management LLC increased its position in SoFi Technologies by 6.3% in the fourth quarter. Tuttle Capital Management LLC now owns 12,901 shares of the company valued at $204,000 after acquiring an additional 759 shares during the period. TimeScale Financial Inc. increased its position in SoFi Technologies by 81.5% in the fourth quarter. TimeScale Financial Inc. now owns 2,319 shares of the company valued at $37,000 after acquiring an additional 1,041 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its position in SoFi Technologies by 119.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company valued at $31,000 after acquiring an additional 1,075 shares during the period. Institutional investors and hedge funds hold 45.81% of the company’s shares.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. The Company operates through three reportable segments: Lending, Financial Services and Technology Platform. Its financial services allow its members to borrow, save, spend, invest and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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