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

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.13.

SoFi Technologies Price Performance

The firm has a 50 day simple moving average of $15.02 and a 200-day simple moving average of $10.43. 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 company has a market cap of $15.70 billion, a PE ratio of 144.71, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results 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 return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, EVP Eric Schuppenhauer purchased 30,600 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $16.34 per share, with a total value of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares of the company’s stock, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SOFI. FNY Investment Advisers LLC increased its stake in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the third quarter worth approximately $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies in the 3rd quarter valued at $28,000. Waldron Private Wealth LLC purchased a new position in SoFi Technologies in the 3rd quarter valued at $39,000. Finally, AdvisorNet Financial Inc boosted its stake in SoFi Technologies by 63.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after purchasing an additional 2,130 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.