SoFi Technologies (NASDAQ:SOFI) Trading Up 5.1% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 5.1% during trading on Tuesday . The company traded as high as $17.11 and last traded at $17.04. Approximately 26,318,778 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 43,154,402 shares. The stock had previously closed at $16.21.

Analysts Set New Price Targets

A number of research firms have issued reports on SOFI. Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. UBS Group increased their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The stock has a fifty day simple moving average of $15.73 and a 200-day simple moving average of $12.08. The stock has a market cap of $18.26 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period last year, the business posted $0.04 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was 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 directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in SoFi Technologies during the third quarter worth about $27,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at $32,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.