SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) rose 2.4% on Monday . The stock traded as high as $16.05 and last traded at $16.02. Approximately 57,220,505 shares were traded during trading, an increase of 18% from the average daily volume of 48,608,632 shares. The stock had previously closed at $15.65.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on SOFI. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Mizuho lifted their price target 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. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday. Finally, Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Three 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.
SoFi Technologies Price Performance
The stock has a market capitalization of $17.38 billion, a P/E ratio of 160.22, a PEG ratio of 2.66 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The business has a fifty day simple moving average of $12.04 and a 200-day simple moving average of $8.84.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS 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 net margin of 8.38% and a return on equity of 3.71%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.
Insider Transactions at SoFi Technologies
In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,960,748 shares of company stock valued at $415,523,316 over the last ninety days. 2.60% of the stock is owned by company insiders.
Institutional Trading of SoFi Technologies
Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC grew its position in SoFi Technologies by 15.2% in the 1st quarter. Tidal Investments LLC now owns 33,733 shares of the company’s stock worth $246,000 after purchasing an additional 4,459 shares in the last quarter. Comerica Bank increased its position in shares of SoFi Technologies by 27.1% during the first quarter. Comerica Bank now owns 23,782 shares of the company’s stock valued at $174,000 after acquiring an additional 5,071 shares during the last quarter. GAMMA Investing LLC lifted its holdings in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the period. CWM LLC boosted its position in SoFi Technologies by 21.7% in the second quarter. CWM LLC now owns 51,284 shares of the company’s stock worth $339,000 after purchasing an additional 9,151 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in SoFi Technologies by 6.0% in the 2nd quarter. QRG Capital Management Inc. now owns 57,098 shares of the company’s stock valued at $377,000 after purchasing an additional 3,249 shares during the period. 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.