SoFi Technologies (NASDAQ:SOFI) Trading Up 1.9% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 1.9% during trading on Friday . The company traded as high as $8.93 and last traded at $8.79. Approximately 10,380,258 shares traded hands during trading, a decline of 77% from the average daily volume of 45,171,414 shares. The stock had previously closed at $8.63.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays decreased their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Price Performance

The firm’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $7.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The firm has a market capitalization of $9.53 billion, a P/E ratio of -29.06, a P/E/G ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,328 shares of company stock worth $808,246. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SOFI. Watts Gwilliam & Co. LLC bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $128,000. LifePro Asset Management purchased a new stake in SoFi Technologies in the third quarter worth about $2,450,000. Wedmont Private Capital bought a new stake in SoFi Technologies during the 3rd quarter valued at approximately $123,000. CWM LLC grew its holdings in shares of SoFi Technologies by 93.0% during the 3rd quarter. CWM LLC now owns 98,956 shares of the company’s stock worth $778,000 after acquiring an additional 47,672 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $119,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.