SoFi Technologies (NASDAQ:SOFI) Trading 1.2% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 1.2% on Wednesday . The company traded as high as $14.28 and last traded at $13.98. 18,997,787 shares were traded during mid-day trading, a decline of 60% from the average session volume of 47,421,504 shares. The stock had previously closed at $13.82.

Analyst Ratings Changes

Several research analysts have issued reports on SOFI shares. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC boosted 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. Barclays increased their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Trading Down 0.7 %

The business has a 50 day moving average of $9.57 and a 200-day moving average of $7.89. The stock has a market cap of $14.28 billion, a PE ratio of 134.01, a price-to-earnings-growth ratio of 2.25 and a beta of 1.60. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released 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. The company had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,636 shares of company stock worth $904,677. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently bought and sold shares of the stock. Paloma Partners Management Co acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at $111,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SoFi Technologies in the 3rd quarter worth $99,000. Tradition Wealth Management LLC boosted its holdings in SoFi Technologies by 3.4% in the third quarter. Tradition Wealth Management LLC now owns 57,533 shares of the company’s stock valued at $452,000 after acquiring an additional 1,880 shares during the last quarter. Edgestream Partners L.P. grew its position in SoFi Technologies by 55.4% during the third quarter. Edgestream Partners L.P. now owns 404,277 shares of the company’s stock valued at $3,178,000 after acquiring an additional 144,139 shares during the period. Finally, Captrust Financial Advisors increased its stake in SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after acquiring an additional 809 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.