SoFi Technologies (NASDAQ:SOFI) Trading 1.2% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1.2% during trading on Thursday . The stock traded as high as $14.74 and last traded at $14.65. 10,725,490 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 44,406,629 shares. The stock had previously closed at $14.47.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SOFI. Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley lifted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Four 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

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 firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 2.24 and a beta of 1.78. The stock’s 50 day moving average price is $15.54 and its two-hundred day moving average price is $12.46.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the previous year, the business posted $0.04 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,008,465 shares of company stock valued at $416,952,167. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the 4th quarter worth $27,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $32,000. FNY Investment Advisers LLC increased its position 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 worth $33,000 after purchasing an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $38,000. 38.43% of the stock is currently 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.