SoFi Technologies (NASDAQ:SOFI) Trading Up 0.8% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 0.8% on Tuesday . The company traded as high as $15.90 and last traded at $15.75. 7,466,030 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 47,246,895 shares. The stock had previously closed at $15.63.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOFI. Needham & Company LLC lifted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays raised their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $11.04.

SoFi Technologies Stock Down 1.5 %

The company has a market cap of $16.71 billion, a price-to-earnings ratio of 154.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77. 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 stock’s fifty day moving average is $14.45 and its two-hundred day moving average is $9.95.

SoFi Technologies (NASDAQ:SOFI) last released 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. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same period in the prior year, the company posted ($0.03) earnings per share. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the period. Zacks Investment Management purchased a new stake in SoFi Technologies in the third quarter worth $3,766,000. Citizens Financial Group Inc. RI lifted its position in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after buying an additional 70,603 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the period. Finally, Qsemble Capital Management LP bought a new position in shares of SoFi Technologies in the 3rd quarter worth about $930,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.