Investors Purchase Large Volume of Call Options on SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) was the target of some unusual options trading on Monday. Stock traders purchased 293,729 call options on the company. This represents an increase of 43% compared to the average daily volume of 205,067 call options.

Analyst Ratings Changes

Several research firms have weighed in on SOFI. Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group decreased their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.29.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders bought a total of 88,390 shares of company stock worth $597,569 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after purchasing an additional 2,567,797 shares during the period. DNB Asset Management AS boosted its position in SoFi Technologies by 97.9% during the 4th quarter. DNB Asset Management AS now owns 195,427 shares of the company’s stock valued at $1,944,000 after acquiring an additional 96,686 shares in the last quarter. Diversified Trust Co purchased a new position in shares of SoFi Technologies in the 4th quarter valued at $184,000. Wedmont Private Capital raised its position in shares of SoFi Technologies by 13.2% in the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock worth $120,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Dfpg Investments LLC lifted its stake in shares of SoFi Technologies by 8.4% during the 4th quarter. Dfpg Investments LLC now owns 321,940 shares of the company’s stock worth $3,203,000 after purchasing an additional 24,937 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Trading Up 6.5 %

SoFi Technologies stock traded up $0.45 during mid-day trading on Monday, hitting $7.42. The company’s stock had a trading volume of 40,636,000 shares, compared to its average volume of 46,744,867. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The company has a 50 day moving average of $6.80 and a 200-day moving average of $7.47. SoFi Technologies has a one year low of $6.15 and a one year high of $11.70. The stock has a market cap of $7.84 billion, a PE ratio of -23.48, a P/E/G ratio of 1.62 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. On average, research analysts anticipate that SoFi Technologies will post 0.08 EPS for the current year.

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.