Stock Traders Buy High Volume of SoFi Technologies Call Options (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) was the target of some unusual options trading activity on Thursday. Stock traders acquired 351,903 call options on the company. This represents an increase of approximately 49% compared to the average volume of 235,859 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SOFI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Barclays reduced their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.25.

SoFi Technologies Stock Up 0.5 %

Shares of SOFI stock opened at $10.99 on Friday. SoFi Technologies has a one year low of $6.01 and a one year high of $11.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The stock has a fifty day moving average price of $8.31 and a 200 day moving average price of $7.44. The stock has a market cap of $11.71 billion, a P/E ratio of -45.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same period last year, the firm earned ($0.06) EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Analysts predict that SoFi Technologies will post 0.1 earnings per share for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the transaction, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of SoFi Technologies by 4,252.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock valued at $585,000 after acquiring an additional 86,545 shares during the period. Mark Asset Management LP lifted its holdings in SoFi Technologies by 79.9% during the 2nd quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock valued at $2,252,000 after purchasing an additional 151,265 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in SoFi Technologies by 64.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock valued at $1,948,000 after buying an additional 115,316 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its stake in SoFi Technologies by 233.3% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $661,000 after buying an additional 70,000 shares during the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth approximately $185,000. Institutional investors own 38.43% of the company’s stock.

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.