SoFi Technologies, Inc. (NASDAQ:SOFI) Given Consensus Recommendation of “Hold” by Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has been assigned a consensus rating of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.50.

SOFI has been the subject of several research analyst reports. Needham & Company LLC lifted their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, UBS Group increased their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock worth $1,308,075 in the last three months. 2.60% of the stock is owned by insiders.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. 111 Capital acquired a new position in SoFi Technologies during the 4th quarter valued at about $438,000. Keystone Financial Services LLC acquired a new stake in SoFi Technologies in the fourth quarter worth about $275,000. Centaurus Financial Inc. acquired a new position in shares of SoFi Technologies during the fourth quarter valued at about $172,000. Total Wealth Planning & Management Inc. purchased a new position in shares of SoFi Technologies in the fourth quarter worth $821,000. Finally, Jefferies Financial Group Inc. acquired a new stake in SoFi Technologies during the 4th quarter worth about $1,164,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $13.07 on Thursday. 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 has a 12 month low of $6.01 and a 12 month high of $18.42. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 2.24 and a beta of 1.79. The firm’s 50-day moving average is $14.60 and its 200 day moving average is $13.14.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the business earned $0.04 EPS. Research analysts predict that SoFi Technologies will post 0.26 EPS 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.