SoFi Technologies (NASDAQ:SOFI – Get Free Report) had its price target raised by equities research analysts at The Goldman Sachs Group from $8.50 to $9.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 39.00% from the stock’s previous close.
SOFI has been the subject of several other research reports. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday. UBS Group lifted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Bank of America reissued an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.50.
Check Out Our Latest Research Report on SOFI
SoFi Technologies Price Performance
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same period last year, the business posted $0.04 earnings per share. On average, sell-side analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current year.
Insider Activity at SoFi Technologies
In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. Corporate insiders own 2.60% of the company’s stock.
Institutional Trading of SoFi Technologies
Several hedge funds have recently made changes to their positions in SOFI. FNY Investment Advisers LLC increased its stake in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in SoFi Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $28,000. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $39,000. Finally, AdvisorNet Financial Inc lifted its holdings in SoFi Technologies by 63.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after buying an additional 2,130 shares in the last quarter. 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.
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