SoFi Technologies (NASDAQ:SOFI) Trading 4.5% Higher – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 4.5% during trading on Monday . The stock traded as high as $13.48 and last traded at $13.45. Approximately 18,576,810 shares changed hands during trading, a decline of 58% from the average daily volume of 44,430,239 shares. The stock had previously closed at $12.87.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price target 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. Bank of America reiterated an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Citigroup lifted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Up 4.8 %

The business has a 50 day simple moving average of $14.67 and a two-hundred day simple moving average of $13.05. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $14.79 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the business posted $0.04 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,905 shares of company stock valued at $1,308,075. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Two Sigma Advisers LP purchased a new position in SoFi Technologies in the fourth quarter valued at about $299,980,000. State Street Corp lifted its stake 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 purchasing an additional 310,532 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after buying an additional 315,899 shares during the period. Finally, Norges Bank acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $103,678,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.