SoFi Technologies (NASDAQ:SOFI) Trading 2.3% Higher – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 2.3% during mid-day trading on Wednesday . The company traded as high as $12.08 and last traded at $11.52. 17,633,060 shares traded hands during trading, a decline of 62% from the average session volume of 46,398,426 shares. The stock had previously closed at $11.26.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, The Goldman Sachs Group lifted their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Up 6.4 %

The firm’s 50-day simple moving average is $15.07 and its 200 day simple moving average is $12.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $13.14 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter last year, the business posted $0.04 EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,004 shares of company stock worth $2,292,100. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of SoFi Technologies during the fourth quarter valued at about $3,703,000. Hanseatic Management Services Inc. acquired a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $1,116,000. Kercheville Advisors LLC bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,594,000. Charles Schwab Investment Management Inc. increased its stake in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares during the period. Finally, Zacks Investment Management bought a new stake in SoFi Technologies during the third quarter worth approximately $3,766,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.