SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.4% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 2.4% on Monday . The stock traded as high as $16.05 and last traded at $16.02. Approximately 57,220,505 shares traded hands during trading, an increase of 18% from the average daily volume of 48,608,632 shares. The stock had previously closed at $15.65.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SOFI. Mizuho lifted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday. Needham & Company LLC upped their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised 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. Finally, JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.50.

SoFi Technologies Stock Performance

The stock has a market cap of $16.59 billion, a price-to-earnings ratio of 152.90, a PEG ratio of 2.66 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a fifty day moving average of $12.35 and a 200 day moving average of $8.96.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million during 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 company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 5.45 % 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, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares in the company, valued at approximately $7,742,252.98. This trade represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,960,748 shares of company stock valued at $415,523,316 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 9,482,683 shares during the last quarter. Marshall Wace LLP grew its stake in shares of SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after buying an additional 2,688,847 shares during the period. Mizuho Markets Americas LLC lifted its stake in SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock worth $20,132,000 after acquiring an additional 2,440,745 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in SoFi Technologies during the 3rd quarter valued at about $16,014,000. 38.43% of the stock is 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.