SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report)’s share price traded up 3.4% during trading on Thursday . The company traded as high as $16.09 and last traded at $16.03. 14,622,784 shares were traded during trading, a decline of 60% from the average session volume of 36,953,266 shares. The stock had previously closed at $15.51.
Wall Street Analysts Forecast Growth
SOFI has been the topic of several analyst reports. Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Citigroup raised their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho upped their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. William Blair began coverage on shares of SoFi Technologies in a report on Wednesday. They set an “outperform” rating on the stock. Finally, Barclays increased their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.71.
Check Out Our Latest Analysis on SoFi Technologies
SoFi Technologies Stock Performance
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.
Insider Transactions at SoFi Technologies
In other news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares of the company’s stock, valued at $2,926,632.75. The trade was a 4.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 in the last ninety days. 2.60% of the stock is currently owned by company insiders.
Institutional Trading of SoFi Technologies
Several large investors have recently modified their holdings of SOFI. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies in the third quarter valued at $28,000. FNY Investment Advisers LLC boosted its stake 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 valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in SoFi Technologies in the 3rd quarter valued at about $47,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.
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.
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