SoFi Technologies (NASDAQ:SOFI) Trading 2.1% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 2.1% during trading on Friday . The company traded as high as $15.51 and last traded at $15.32. 13,015,205 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 47,449,852 shares. The stock had previously closed at $15.01.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SOFI. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Barclays increased their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Mizuho lifted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.80.

SoFi Technologies Stock Performance

The stock has a 50-day moving average of $10.28 and a 200-day moving average of $8.15. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 153.22, a price-to-earnings-growth ratio of 2.40 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the firm earned ($0.03) EPS. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,697 shares of company stock valued at $723,620 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after buying an additional 855 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its stake in SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its position in SoFi Technologies by 3.3% in the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after acquiring an additional 1,054 shares during the last quarter. 38.43% of the stock is currently owned by 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.