SoFi Technologies (NASDAQ:SOFI) Shares Up 1.5% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.5% on Tuesday . The stock traded as high as $15.90 and last traded at $15.87. Approximately 7,100,476 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 47,543,102 shares. The stock had previously closed at $15.63.

Analysts Set New Price Targets

SOFI has been the topic of several analyst reports. Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Finally, Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $11.04.

SoFi Technologies Price Performance

The company’s fifty day moving average is $13.66 and its 200 day moving average is $9.53. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market cap of $17.38 billion, a PE ratio of 160.22, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released 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. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The company’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock valued at $416,889,795 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies in the third quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its position in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the third quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies in the 3rd quarter worth about $47,000. Institutional investors and hedge funds 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.