SoFi Technologies (NASDAQ:SOFI) Shares Up 2% on Insider Buying Activity

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 2% during mid-day trading on Monday following insider buying activity. The company traded as high as $16.84 and last traded at $16.57. 17,569,275 shares changed hands during trading, a decline of 63% from the average session volume of 47,446,926 shares. The stock had previously closed at $16.25.

Specifically, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SOFI shares. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.50.

SoFi Technologies Stock Performance

The company has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $9.29. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 166.60, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted 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 acquiring an additional 9,482,683 shares in the last quarter. Marshall Wace LLP boosted its position in shares of SoFi Technologies by 130.0% in 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 during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after buying an additional 2,688,847 shares during the period. Mizuho Markets Americas LLC lifted its stake in SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock worth $20,132,000 after acquiring an additional 2,440,745 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in SoFi Technologies during the 3rd quarter worth about $16,014,000. 38.43% of the stock is owned by hedge funds and other 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.