SoFi Technologies Sees Unusually High Options Volume (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) was the target of some unusual options trading activity on Friday. Stock investors purchased 370,614 call options on the company. This represents an increase of approximately 53% compared to the average volume of 242,278 call options.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in SoFi Technologies during the fourth quarter valued at $27,000. Westside Investment Management Inc. raised its position in shares of SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the last quarter. Tortoise Investment Management LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $39,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $40,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $44,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

SOFI opened at $7.87 on Friday. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The company has a market cap of $7.69 billion, a price-to-earnings ratio of -20.71 and a beta of 1.75. SoFi Technologies has a 52-week low of $4.45 and a 52-week high of $11.70. The firm’s fifty day simple moving average is $7.64 and its two-hundred day simple moving average is $7.90.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $615.40 million for the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The company’s revenue was up 34.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Equities analysts anticipate that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on SOFI shares. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price target for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Jefferies Financial Group cut their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of SoFi Technologies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $11.00 price objective on the stock. Wedbush reiterated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Wednesday, March 6th. Finally, Needham & Company LLC started coverage on shares of SoFi Technologies in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.08.

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.