SoFi Technologies (NASDAQ:SOFI) Trading Up 0.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 0.1% during mid-day trading on Tuesday . The company traded as high as $15.84 and last traded at $15.71. 9,382,976 shares traded hands during trading, a decline of 80% from the average session volume of 47,447,789 shares. The stock had previously closed at $15.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SOFI. Mizuho lifted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays raised their price target 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. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.80.

SoFi Technologies Trading Up 4.1 %

The firm has a market cap of $17.49 billion, a P/E ratio of 161.22, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $10.74 and its 200 day simple moving average is $8.34.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 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 business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,081 shares of the business’s 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 sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the business’s 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 transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,287 shares of company stock valued at $863,250 over the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC grew its stake in SoFi Technologies by 6.5% during the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after acquiring an additional 1,336 shares in the last quarter. Virtu Financial LLC purchased a new position in SoFi Technologies during the third quarter valued at approximately $1,649,000. Coldstream Capital Management Inc. purchased a new position in SoFi Technologies in the 3rd quarter worth approximately $93,000. Geode Capital Management LLC grew its stake in SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after buying an additional 358,806 shares in the last quarter. Finally, M&T Bank Corp grew its stake in SoFi Technologies by 5.4% in the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock worth $359,000 after buying an additional 2,332 shares in the last quarter. 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.