SoFi Technologies (NASDAQ:SOFI) Trading Up 2% on Insider Buying Activity

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 2% during mid-day trading on Monday following insider buying activity. The stock traded as high as $16.84 and last traded at $16.57. 17,569,275 shares traded hands during trading, a decline of 63% from the average session volume of 47,446,926 shares. The stock had previously closed at $16.25.

Specifically, EVP Eric Schuppenhauer acquired 30,600 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SOFI shares. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $10.50.

SoFi Technologies Stock Performance

The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 166.60, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. 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 stock’s 50 day moving average is $13.16 and its 200 day moving average is $9.29.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in SoFi Technologies by 783.5% in the 2nd quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock worth $59,000 after purchasing an additional 7,185 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of SoFi Technologies in the second quarter valued at approximately $401,000. Raymond James & Associates grew its position in SoFi Technologies by 28.6% during the second quarter. Raymond James & Associates now owns 520,301 shares of the company’s stock worth $3,439,000 after buying an additional 115,639 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in SoFi Technologies during the 2nd quarter worth $185,000. Finally, Atria Wealth Solutions Inc. increased its stake in SoFi Technologies by 8.3% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 467,009 shares of the company’s stock worth $3,087,000 after acquiring an additional 35,738 shares during the period. 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.