SoFi Technologies (NASDAQ:SOFI) Trading 4.5% Higher – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 4.5% on Monday . The company traded as high as $13.48 and last traded at $13.45. 18,576,810 shares changed hands during trading, a decline of 58% from the average session volume of 44,430,239 shares. The stock had previously closed at $12.87.

Wall Street Analyst Weigh In

Several research analysts have commented on SOFI shares. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. UBS Group lifted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Needham & Company LLC upped their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The company has a market cap of $14.85 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The business has a 50 day moving average price of $14.64 and a two-hundred day moving average price of $13.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.04 earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP increased its position in SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after purchasing an additional 631 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of SoFi Technologies by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares in the last quarter. Captrust Financial Advisors raised its stake in SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after buying an additional 809 shares in the last quarter. Procyon Advisors LLC raised its stake in SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after buying an additional 1,000 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its holdings in SoFi Technologies by 13.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock worth $128,000 after buying an additional 1,000 shares during the period. 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.