SoFi Technologies (NASDAQ:SOFI) Trading 1.8% Higher – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 1.8% on Thursday . The stock traded as high as $16.67 and last traded at $16.28. 13,359,274 shares were traded during trading, a decline of 71% from the average session volume of 45,846,387 shares. The stock had previously closed at $15.99.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent research reports. Needham & Company LLC increased their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Barclays upped their price objective 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. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (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 assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Performance

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 company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 164.22, a P/E/G ratio of 1.19 and a beta of 1.78. The firm has a 50-day simple moving average of $15.81 and a two-hundred day simple moving average of $11.25.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same quarter in the prior year, the company posted $0.04 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This trade 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 hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now directly 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 26,008,870 shares of company stock valued at $416,950,073 in the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. Hanseatic Management Services Inc. purchased a new stake in SoFi Technologies in the fourth quarter valued at $1,116,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $3,766,000. Citizens Financial Group Inc. RI grew its stake in SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after buying an additional 70,603 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 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.