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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 2.5% during trading on Wednesday . The stock traded as high as $16.03 and last traded at $16.02. 15,731,459 shares traded 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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SOFI. 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. Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. 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 presently has a consensus rating of “Hold” and an average target price of $11.04.

SoFi Technologies Trading Up 3.6 %

The business’s 50 day simple moving average is $14.03 and its 200 day simple moving average is $9.69. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 166.02, a PEG ratio of 2.65 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. On average, research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction dated 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 owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. World Investment Advisors LLC increased 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 during the period. Virtu Financial LLC acquired a new stake in shares of SoFi Technologies in the third quarter valued at about $1,649,000. Coldstream Capital Management Inc. bought a new position in SoFi Technologies during the 3rd quarter worth approximately $93,000. Geode Capital Management LLC increased 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 during the period. Finally, M&T Bank Corp grew its position in SoFi Technologies by 5.4% in the 3rd 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. 38.43% of the stock is currently owned by institutional investors.

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.