SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) shares shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $11.52 and last traded at $11.49. 20,742,869 shares were traded during trading, a decline of 56% from the average session volume of 46,790,500 shares. The stock had previously closed at $10.91.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on SOFI. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Barclays increased their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two investment 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 has a consensus rating of “Hold” and a consensus price target of $9.32.
SoFi Technologies Trading Up 4.7 %
The stock has a market cap of $12.17 billion, a PE ratio of 114.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The company’s 50-day moving average price is $8.74 and its 200 day moving average price is $7.59.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.
Insider Activity
In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, 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 value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. Company insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On SoFi Technologies
Several large investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its position in shares of SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares during the last quarter. Mark Asset Management LP raised its stake in SoFi Technologies by 79.9% in the second quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock valued at $2,252,000 after buying an additional 151,265 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of SoFi Technologies by 64.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after acquiring an additional 115,316 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of SoFi Technologies by 233.3% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock valued at $661,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of SoFi Technologies by 7.4% during the 3rd quarter. Diversify Advisory Services LLC now owns 813,589 shares of the company’s stock worth $6,395,000 after acquiring an additional 56,245 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.
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.