SoFi Technologies (NASDAQ:SOFI) Stock Price Up 7.7% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 7.7% during mid-day trading on Thursday . The stock traded as high as $11.30 and last traded at $11.22. 30,482,182 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 45,730,191 shares. The stock had previously closed at $10.42.

Analyst Upgrades and Downgrades

Several analysts have commented on SOFI shares. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Wednesday, July 31st. Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods cut their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.25.

SoFi Technologies Stock Up 4.6 %

The stock has a market cap of $11.52 billion, a P/E ratio of -36.19, a P/E/G ratio of 1.72 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average price is $8.15 and its two-hundred day moving average price is $7.39.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred 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 owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in SOFI. ORG Partners LLC purchased a new position in SoFi Technologies in the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares in the last quarter. GAMMA Investing LLC raised its stake in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in SoFi Technologies during the 1st quarter worth $37,000. Finally, Waldron Private Wealth LLC acquired a new position in SoFi Technologies in the third quarter valued at $39,000. Hedge funds and other 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.