SoFi Technologies (NASDAQ:SOFI) Shares Up 3.9% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 3.9% on Wednesday . The company traded as high as $12.41 and last traded at $12.42. Approximately 8,722,247 shares changed hands during trading, a decline of 80% from the average daily volume of 44,455,528 shares. The stock had previously closed at $11.95.

Analyst Ratings Changes

Several brokerages have issued reports on SOFI. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Mizuho increased their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. UBS Group boosted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Up 4.6 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm’s 50 day moving average price is $14.77 and its 200 day moving average price is $12.94. The stock has a market capitalization of $13.70 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the firm posted $0.04 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,004 shares of company stock valued at $1,459,060 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies in the fourth quarter worth $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $28,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new position in shares of SoFi Technologies in the 4th quarter worth about $32,000. Finally, FNY Investment Advisers LLC lifted its position in SoFi Technologies by 727.1% during the 4th 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 during the period. 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.