SoFi Technologies Sees Unusually Large Options Volume (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) saw some unusual options trading on Friday. Stock investors bought 370,614 call options on the company. This represents an increase of 53% compared to the typical volume of 242,278 call options.

Analyst Ratings Changes

Several analysts have weighed in on SOFI shares. Deutsche Bank Aktiengesellschaft assumed coverage on SoFi Technologies in a research note on Wednesday, January 10th. They set a “hold” rating and a $11.00 target price on the stock. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Jefferies Financial Group decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Finally, Citigroup initiated coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 target price for the company. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.08.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in SoFi Technologies during the fourth quarter worth $71,349,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of SoFi Technologies by 176.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the period. Vanguard Group Inc. raised its position in shares of SoFi Technologies by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after buying an additional 5,057,233 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of SoFi Technologies in the fourth quarter valued at about $38,595,000. Finally, Nikko Asset Management Americas Inc. grew its position in SoFi Technologies by 241.4% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,896,692 shares of the company’s stock worth $38,733,000 after buying an additional 2,755,197 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

SOFI traded up $0.28 on Friday, hitting $7.87. The company had a trading volume of 87,518,490 shares, compared to its average volume of 52,757,336. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of -20.71 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The company’s fifty day moving average price is $7.64 and its 200 day moving average price is $7.90. SoFi Technologies has a 1-year low of $4.45 and a 1-year high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $572.02 million. During the same period in the previous year, the company earned ($0.05) earnings per share. SoFi Technologies’s revenue for the quarter was up 34.7% on a year-over-year basis. Equities analysts predict that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.

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.