SoFi Technologies (NASDAQ:SOFI) Trading 1.8% Higher – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 1.8% during trading on Wednesday . The company traded as high as $26.85 and last traded at $26.72. 61,023,730 shares were traded during trading, a decline of 5% from the average session volume of 64,367,059 shares. The stock had previously closed at $26.24.

Analyst Ratings Changes

A number of research firms recently weighed in on SOFI. BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. Needham & Company LLC raised their price objective on SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, Truist Financial upped their target price on SoFi Technologies from $29.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.06.

SoFi Technologies Trading Up 1.1%

The firm has a 50-day moving average of $28.12 and a 200 day moving average of $22.23. The company has a market cap of $30.38 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company’s revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, 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 other news, insider Arun Pinto sold 46,132 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the transaction, the insider owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total value of $273,286.20. Following the transaction, the executive vice president directly owned 265,034 shares in the company, valued at approximately $7,004,848.62. This trade represents a 3.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 175,277 shares of company stock valued at $4,694,595. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the company. Xcel Wealth Management LLC increased its stake in SoFi Technologies by 0.6% during the 3rd quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock valued at $1,874,000 after purchasing an additional 392 shares in the last quarter. Key Client Fiduciary Advisors LLC grew its holdings in shares of SoFi Technologies by 3.1% during the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock valued at $373,000 after buying an additional 419 shares during the last quarter. Assetmark Inc. increased its position in shares of SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock worth $34,000 after acquiring an additional 427 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of SoFi Technologies by 4.2% during the third quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock worth $291,000 after acquiring an additional 446 shares in the last quarter. Finally, Blume Capital Management Inc. raised its holdings in shares of SoFi Technologies by 52.9% in the 3rd quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock worth $34,000 after acquiring an additional 450 shares during the last quarter. 38.43% of the stock is 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.