SoFi Technologies (NASDAQ:SOFI) Trading Up 3.2% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 3.2% during trading on Monday . The company traded as high as $14.11 and last traded at $14.07. 13,418,675 shares changed hands during trading, a decline of 72% from the average session volume of 47,439,961 shares. The stock had previously closed at $13.63.

Wall Street Analyst Weigh In

A number of research firms recently commented on SOFI. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC lifted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.80.

SoFi Technologies Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a fifty day simple moving average of $9.98 and a 200-day simple moving average of $8.05. The company has a market capitalization of $15.65 billion, a PE ratio of 144.20, a P/E/G ratio of 2.27 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’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 business earned ($0.03) EPS. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 17.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. bought a new stake in shares of SoFi Technologies in the 3rd quarter worth $93,000. Geode Capital Management LLC raised its stake in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after buying an additional 358,806 shares in the last quarter. M&T Bank Corp raised its stake in shares of SoFi Technologies by 5.4% in the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock worth $359,000 after buying an additional 2,332 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of SoFi Technologies in the 3rd quarter worth $1,915,000. Finally, MML Investors Services LLC raised its stake in shares of SoFi Technologies by 15.1% in the 3rd quarter. MML Investors Services LLC now owns 1,489,932 shares of the company’s stock worth $11,711,000 after buying an additional 195,236 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.