SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.2% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.2% on Tuesday . The company traded as high as $15.59 and last traded at $15.59. Approximately 9,833,257 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 45,180,707 shares. The stock had previously closed at $15.40.

Wall Street Analyst Weigh In

Several research firms have commented on SOFI. JPMorgan Chase & Co. boosted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. UBS Group upped their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Citigroup upped their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Barclays upped 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Performance

The stock has a market capitalization of $16.65 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 2.12 and a beta of 1.78. The stock’s 50 day moving average is $15.84 and its 200 day moving average is $11.45. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the company posted $0.04 EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now owns 25,937 shares in the company, valued at $415,510.74. This represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in shares of SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after buying an additional 310,532 shares in the last quarter. Geode Capital Management LLC grew its position in shares of SoFi Technologies by 2.1% during the third 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. Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares in the last quarter. Azora Capital LP grew its position in shares of SoFi Technologies by 8.8% during the third quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after buying an additional 352,901 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors 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.