SoFi Technologies (NASDAQ:SOFI) Trading Up 2.8% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 2.8% during trading on Monday . The stock traded as high as $10.65 and last traded at $9.84. 38,492,041 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 45,505,374 shares. The stock had previously closed at $9.57.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Citigroup lifted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. UBS Group increased their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Finally, Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Up 19.9 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $12.49 billion, a PE ratio of 30.78, a PEG ratio of 2.24 and a beta of 1.86. The stock has a fifty day moving average of $13.21 and a 200 day moving average of $13.37.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 prior year, the firm earned $0.04 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This represents a 5.14 % 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 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Elequin Capital LP raised its stake in shares of SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after acquiring an additional 631 shares during the period. CIBC Private Wealth Group LLC lifted its stake in SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock worth $881,000 after purchasing an additional 685 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares during the last quarter. Procyon Advisors LLC raised its holdings in shares of 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 during the period. Finally, Game Plan Financial Advisors LLC lifted its stake in shares of SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock worth $128,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.