SoFi Technologies (NASDAQ:SOFI) Stock Price Up 4.1% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 4.1% during mid-day trading on Tuesday . The company traded as high as $14.86 and last traded at $14.65. Approximately 12,074,722 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 36,663,863 shares. The stock had previously closed at $14.07.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SOFI. JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Barclays lifted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Bank of America reissued an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $11.13.

SoFi Technologies Price Performance

The company has a market capitalization of $15.70 billion, a PE ratio of 144.71, a P/E/G ratio of 2.70 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $15.02 and a 200-day simple moving average of $10.43.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock worth $416,889,795 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP grew its holdings in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $16,014,000. Finally, Hsbc Holdings PLC raised its holdings in SoFi Technologies by 337.6% during the second quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock worth $4,715,000 after purchasing an additional 554,866 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.