SoFi Technologies (NASDAQ:SOFI) Trading Up 1.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 1.1% during trading on Friday . The company traded as high as $18.42 and last traded at $18.24. Approximately 18,792,522 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 41,427,262 shares. The stock had previously closed at $18.03.

Analyst Ratings Changes

A number of analysts recently weighed in on SOFI shares. Bank of America restated an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Price Performance

The stock has a market capitalization of $19.45 billion, a PE ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78. 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 stock’s 50-day moving average is $15.71 and its 200 day moving average is $11.05.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last three months. 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 business. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies during the 3rd quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies in the 3rd quarter worth approximately $28,000. FNY Investment Advisers LLC boosted its position in SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares during the period. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $47,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.