SoFi Technologies (NASDAQ:SOFI) Trading 1.8% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 1.8% during trading on Thursday . The company traded as high as $16.67 and last traded at $16.28. Approximately 13,359,274 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 45,846,387 shares. The stock had previously closed at $15.99.

Analysts Set New Price Targets

A number of equities analysts have commented on SOFI shares. Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Morgan Stanley lifted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Down 4.0 %

The stock has a 50 day simple moving average of $15.84 and a 200-day simple moving average of $11.34. The firm has a market cap of $17.12 billion, a PE ratio of 42.65, a PEG ratio of 2.15 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the business earned $0.04 earnings per share. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.28 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $16.34 per share, with a total value of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This trade represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC grew its position in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies during the third quarter worth about $28,000. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the third quarter worth about $39,000. Finally, AdvisorNet Financial Inc grew its position in shares of SoFi Technologies by 63.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after purchasing an additional 2,130 shares in the last quarter. 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.