In yesterday’s Wall Street session, SoFi Technologies Inc. (NASDAQ:SOFI) shares traded at $8.90, up 4.09% from the previous session.
SOFI stock price is now -0.42% away from the 50-day moving average and 33.08% away from the 200-day moving average. The market capitalization of the company currently stands at $8.48B.
With the price target enhanced from $9 to $15, Mizuho maintained Buy rating for SoFi Technologies Inc. (NASDAQ: SOFI).
In other news, Rishel Jeremy, Chief Technology Officer sold 53,532 shares of the company’s stock on Sep 01. The stock was sold for $475,364 at an average price of $8.88. Upon completion of the transaction, the Chief Technology Officer now directly owns 160,597 shares in the company, valued at $1.43 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 16, President – SoFi Bank Borton Chad M sold 90,458 shares of the business’s stock. A total of $784,985 was realized by selling the stock at an average price of $8.68. This leaves the insider owning 229,449 shares of the company worth $2.04 million. Insiders disposed of 3,627,097 shares of company stock worth roughly $32.28 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 TWO SIGMA ADVISERS, LP during the first quarter worth $120,038,000. MARSHALL WACE, LLP invested $26,887,000 in shares of SOFI during the first quarter. In the first quarter, AZORA CAPITAL LP acquired a new stake in SoFi Technologies Inc. valued at approximately $12,746,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in SOFI for approximately $8,891,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in SOFI valued at around $6,307,000 in the second quarter. In total, there are 633 active investors with 34.60% ownership of the company’s stock.
Monday morning saw SoFi Technologies Inc. (NASDAQ: SOFI) opened at $8.65. During the past 12 months, SoFi Technologies Inc. has had a low of $4.24 and a high of $11.70. The fifty day moving average price for SOFI is $8.94 and a two-hundred day moving average price translates $6.69 for the stock.
The latest earnings results from SoFi Technologies Inc. (NASDAQ: SOFI) was released for Jun, 2023. According to the Credit Services Company, earnings per share came in at -$0.06, inline with analysts’ expectations of -$0.06. This compares to -$0.12 EPS in the same period last year. The net profit margin was -17.60% and return on equity was -4.50% for SOFI. The company reported revenue of $470.0 million for the quarter, compared to $149.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 214.35 percent. For the current quarter, analysts expect SOFI to generate $512.83M in revenue.
SoFi Technologies Inc.(SOFI) Company Profile
SoFi Technologies, Inc. provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services. The company also operates Galileo, a technology platform that offers services to financial and non-financial institutions and brokerage services, as well as Technisys, a cloud-native digital and core banking platform with financial services customers. In addition, it offers checking and savings accounts; debit cards; and cash management products. Further, the company provides SoFi Invest, a mobile investment platform that provide its members access to trading and advisory solutions, such as active investing, robo-advisory, and digital assets accounts. The company was founded in 2011 and is headquartered in San Francisco, California.
