SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) was up 0.4% during trading on Friday . The company traded as high as $16.25 and last traded at $15.96. Approximately 10,906,823 shares changed hands during trading, a decline of 77% from the average daily volume of 47,446,934 shares. The stock had previously closed at $15.90.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on SOFI shares. Jefferies Financial Group upped 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. Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC lifted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.50.
Check Out Our Latest Research Report on SOFI
SoFi Technologies Stock Up 2.2 %
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating 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 firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the previous year, the company posted ($0.03) earnings per share. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.
Insider Buying and Selling
In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction 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. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,012,748 shares of company stock valued at $416,356,356. Company insiders own 2.60% of the company’s stock.
Hedge Funds Weigh In On SoFi Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after acquiring an additional 310,532 shares during the last quarter. Geode Capital Management LLC increased its holdings in SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after buying an additional 690,638 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after buying an additional 3,593,464 shares in the last quarter. 38.43% of the stock is 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.
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