SoFi Technologies (NASDAQ:SOFI) Shares Up 2.5% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 2.5% on Wednesday . The stock traded as high as $16.03 and last traded at $16.02. 15,731,459 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 47,582,809 shares. The stock had previously closed at $15.63.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SOFI shares. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.04.

SoFi Technologies Stock Up 3.6 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $14.03 and a two-hundred day simple moving average of $9.69. The stock has a market capitalization of $18.01 billion, a P/E ratio of 166.02, a PEG ratio of 2.65 and a beta of 1.77.

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

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company’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 transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the 3rd quarter worth about $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC lifted its holdings in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth $47,000. Institutional investors and hedge funds 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.