SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.5% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 2.5% during mid-day trading on Wednesday . The stock traded as high as $16.03 and last traded at $16.02. 15,731,459 shares changed hands during trading, a decline of 67% from the average session volume of 47,582,809 shares. The stock had previously closed at $15.63.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SOFI. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays lifted 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. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Bank of America restated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.04.

SoFi Technologies Stock Up 2.5 %

The firm’s 50-day moving average price is $13.78 and its two-hundred day moving average price is $9.59. 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 firm has a market cap of $17.38 billion, a PE ratio of 160.22, a P/E/G ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) earnings per share. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of the stock in a transaction on Monday, December 16th. The stock was bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 26,009,264 shares of company stock worth $416,889,795. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently added to or reduced their stakes in SOFI. World Investment Advisors LLC boosted its stake in shares of SoFi Technologies by 6.5% in the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after buying an additional 1,336 shares in the last quarter. Virtu Financial LLC acquired a new stake in SoFi Technologies in the third quarter valued at $1,649,000. Coldstream Capital Management Inc. purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth $93,000. Geode Capital Management LLC grew its stake in shares of SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of SoFi Technologies by 5.4% in the third quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after purchasing an additional 2,332 shares during the period. 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.