Stocks of SoFi Technologies Inc. (NASDAQ:SOFI) traded higher last session on Wall Street, down -5.47% to $5.53.
SOFI stock price is now 1.85% away from the 50-day moving average and -23.02% away from the 200-day moving average. The market capitalization of the company currently stands at $4.60B.
With the price target enhanced from $8 to $9, BofA Securities Upgraded its rating from Neutral to Buy for SoFi Technologies Inc. (NASDAQ: SOFI)., while ‘Piper Sandler’ rates the stock as ‘Overweight’.
In other news, SOFTBANK GROUP CORP, 10% Owner sold 6,683,133 shares of the company’s stock on Aug 08. The stock was sold for $54,601,197 at an average price of $8.17. Upon completion of the transaction, the 10% Owner now directly owns 83,216,977 shares in the company, valued at $460.19 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 05, 10% Owner SOFTBANK GROUP CORP sold 5,381,785 shares of the business’s stock. A total of $43,000,462 was realized by selling the stock at an average price of $7.99. This leaves the insider owning 89,900,110 shares of the company worth $497.15 million. Insiders disposed of 59,708,946 shares of company stock worth roughly $330.19 million over the past 1 year. A total of 1.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SOFI stock. A new stake in SoFi Technologies Inc. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $19,409,000. J. GOLDMAN & CO LP invested $11,669,000 in shares of SOFI during the first quarter. In the first quarter, CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM acquired a new stake in SoFi Technologies Inc. valued at approximately $8,160,000. WEISS MULTI-STRATEGY ADVISERS LLC acquired a new stake in SOFI for approximately $5,254,000. TREXQUANT INVESTMENT LP purchased a new stake in SOFI valued at around $4,112,000 in the second quarter.
Wednesday’s opening bell rang with an opening price of $5.77 for SoFi Technologies Inc. (NASDAQ: SOFI). During the past 12 months, SoFi Technologies Inc. has had a low of $4.77 and a high of $22.63. The fifty day moving average price for SOFI is $5.43 and a two-hundred day moving average price translates $7.18 for the stock.
The net profit margin was -77.00% and return on equity was -8.70% for SOFI. The company reported revenue of $198.04 million for the quarter, compared to $93.6 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 111.58 percent.