SoFi Technologies (NASDAQ:SOFI) Trading 2.1% Higher – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 2.1% during mid-day trading on Friday . The stock traded as high as $16.73 and last traded at $16.65. 18,165,684 shares were traded during trading, a decline of 52% from the average session volume of 37,603,195 shares. The stock had previously closed at $16.30.

Analysts Set New Price Targets

Several research firms have weighed in on SOFI. Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Mizuho lifted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Barclays lifted their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Price Performance

The firm has a market capitalization of $17.90 billion, a P/E ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. 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 50 day moving average price of $15.32 and a 200-day moving average price of $10.66.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) 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 company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the company earned ($0.03) earnings per share. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. On average, analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. 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 stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the 3rd quarter valued at about $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies during the third quarter worth approximately $28,000. FNY Investment Advisers LLC raised its stake in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies in the third quarter worth approximately $47,000. 38.43% of the stock is 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.