SoFi Technologies (NASDAQ:SOFI) Coverage Initiated at William Blair

William Blair assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research report issued on Wednesday,Benzinga reports. The brokerage set an “outperform” rating on the stock.

SOFI has been the topic of a number of other research reports. Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Finally, Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Four investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Stock Up 3.1 %

Shares of NASDAQ SOFI opened at $14.50 on Wednesday. The stock has a market capitalization of $15.73 billion, a PE ratio of 145.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. 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 $17.19. The stock’s fifty day simple moving average is $15.08 and its two-hundred day simple moving average is $10.49.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS. As a group, analysts expect that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in SoFi Technologies by 6.9% during the second quarter. Victory Capital Management Inc. now owns 127,342 shares of the company’s stock worth $842,000 after purchasing an additional 8,267 shares in the last quarter. Choreo LLC purchased a new stake in shares of SoFi Technologies in the 2nd quarter valued at $101,000. Oppenheimer & Co. Inc. grew its position in SoFi Technologies by 7.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 246,803 shares of the company’s stock valued at $1,631,000 after acquiring an additional 16,999 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in SoFi Technologies during the second quarter worth about $1,125,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.