Stock Traders Purchase High Volume of Call Options on SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) saw unusually large options trading on Monday. Stock traders bought 293,729 call options on the stock. This is an increase of approximately 43% compared to the average volume of 205,067 call options.

Analysts Set New Price Targets

Several research firms recently issued reports on SOFI. Citigroup initiated coverage on shares of SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 price target for the company. BTIG Research initiated coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. Barclays decreased their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.29.

SoFi Technologies Price Performance

SoFi Technologies stock traded up $0.45 during mid-day trading on Monday, hitting $7.42. 40,636,000 shares of the company were exchanged, compared to its average volume of 46,744,867. SoFi Technologies has a 12-month low of $6.15 and a 12-month high of $11.70. The company has a market capitalization of $7.84 billion, a P/E ratio of -23.48, a PEG ratio of 1.62 and a beta of 1.70. The business’s 50 day simple moving average is $6.80 and its two-hundred day simple moving average is $7.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. During the same quarter last year, the business posted ($0.05) EPS. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. Analysts forecast that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Anthony Noto purchased 30,715 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $6.48 per share, with a total value of $199,033.20. Following the completion of the acquisition, the chief executive officer now directly owns 8,121,844 shares in the company, valued at $52,629,549.12. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders have bought a total of 88,390 shares of company stock valued at $597,569 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after purchasing an additional 2,567,797 shares during the period. DNB Asset Management AS increased its stake in SoFi Technologies by 97.9% in the fourth quarter. DNB Asset Management AS now owns 195,427 shares of the company’s stock valued at $1,944,000 after purchasing an additional 96,686 shares during the last quarter. Diversified Trust Co purchased a new position in SoFi Technologies during the fourth quarter worth about $184,000. Wedmont Private Capital boosted its stake in SoFi Technologies by 13.2% in the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock worth $120,000 after buying an additional 1,411 shares during the last quarter. Finally, Dfpg Investments LLC grew its holdings in SoFi Technologies by 8.4% in the 4th quarter. Dfpg Investments LLC now owns 321,940 shares of the company’s stock valued at $3,203,000 after buying an additional 24,937 shares during the period. Institutional investors and hedge funds 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.