SoFi Technologies (NASDAQ:SOFI) Trading 0.9% Higher – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 0.9% on Thursday . The stock traded as high as $17.87 and last traded at $17.76. 10,468,744 shares traded hands during trading, a decline of 74% from the average session volume of 40,565,137 shares. The stock had previously closed at $17.59.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective 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, Bank of America reissued an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $11.71.

SoFi Technologies Stock Performance

The firm has a market cap of $19.45 billion, a PE ratio of 179.22, a PEG ratio of 1.19 and a beta of 1.78. 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 company has a 50-day simple moving average of $15.71 and a two-hundred day simple moving average of $11.02.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares of the company’s stock, valued at $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock worth $416,950,073 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SOFI. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the third quarter worth $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies during the 3rd quarter worth about $28,000. FNY Investment Advisers LLC boosted its stake in SoFi Technologies by 727.1% in the 4th 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 during the period. Waldron Private Wealth LLC purchased a new position in SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies during the 3rd quarter valued at about $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.