SoFi Technologies (NASDAQ:SOFI) Hits New 52-Week High – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.46 and last traded at $17.04, with a volume of 10978991 shares traded. The stock had previously closed at $16.50.

Analyst Ratings Changes

Several research firms have weighed in on SOFI. Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley increased 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. William Blair assumed coverage on SoFi Technologies in a research note on Wednesday, January 15th. They issued an “outperform” rating on the stock. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $11.71.

SoFi Technologies Trading Up 7.1 %

The firm has a market cap of $19.18 billion, a price-to-earnings ratio of 175.67, a P/E/G ratio of 1.12 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. The company’s 50 day simple moving average is $15.36 and its 200 day simple moving average is $10.76.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the business earned ($0.03) EPS. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,999,956 shares of company stock worth $416,793,365 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies during the third quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies during the 3rd quarter worth approximately $28,000. FNY Investment Advisers LLC raised its stake in shares of SoFi Technologies by 727.1% in the 4th 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 period. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies during the third quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of SoFi Technologies in the third quarter valued at about $47,000. Hedge funds and other 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.