SoFi Technologies Target of Unusually Large Options Trading (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) saw unusually large options trading on Friday. Stock investors acquired 280,493 call options on the company. This is an increase of approximately 35% compared to the typical daily volume of 207,470 call options.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,328 shares of company stock valued at $808,246 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. boosted its holdings in SoFi Technologies by 4,252.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock valued at $585,000 after purchasing an additional 86,545 shares during the last quarter. Mark Asset Management LP boosted its stake in shares of SoFi Technologies by 79.9% during the 2nd quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock valued at $2,252,000 after buying an additional 151,265 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc grew its position in shares of SoFi Technologies by 233.3% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $661,000 after buying an additional 70,000 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of SoFi Technologies in the first quarter worth $185,000. Finally, Miracle Mile Advisors LLC increased its stake in shares of SoFi Technologies by 3.7% in the second quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock worth $558,000 after buying an additional 3,000 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 7.2 %

Shares of NASDAQ:SOFI opened at $8.39 on Friday. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of -27.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70. The company has a 50 day moving average of $7.42 and a two-hundred day moving average of $7.18. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $10.49. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same period last year, the business earned ($0.06) EPS. The business’s revenue was up 20.2% on a year-over-year basis. As a group, analysts forecast that SoFi Technologies will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SOFI shares. Barclays lowered their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.