SoFi Technologies (NASDAQ:SOFI) Shares Up 6.7% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 6.7% during trading on Monday . The company traded as high as $16.42 and last traded at $16.21. 63,149,894 shares were traded during trading, an increase of 45% from the average session volume of 43,586,292 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent research reports. Citigroup increased their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Barclays increased 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. Bank of America reissued an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. UBS Group increased their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Up 6.7 %

The company has a market cap of $17.59 billion, a price-to-earnings ratio of 43.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company’s fifty day moving average price is $15.69 and its two-hundred day moving average price is $11.94. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the company earned $0.04 EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares in the company, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 over the last three months. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of SOFI. NBC Securities Inc. boosted its stake in SoFi Technologies by 12.7% in the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after acquiring an additional 1,081 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in SoFi Technologies by 5.5% in the third quarter. Vontobel Holding Ltd. now owns 199,575 shares of the company’s stock valued at $1,569,000 after acquiring an additional 10,338 shares during the last quarter. Global Retirement Partners LLC boosted its stake in SoFi Technologies by 21.7% in the third quarter. Global Retirement Partners LLC now owns 46,602 shares of the company’s stock valued at $366,000 after acquiring an additional 8,323 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in SoFi Technologies by 3.3% in the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of SoFi Technologies by 67.9% during the third quarter. Blue Trust Inc. now owns 13,606 shares of the company’s stock worth $107,000 after purchasing an additional 5,504 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

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.