SoFi Technologies (NASDAQ:SOFI) Stock Price Up 7.7% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 7.7% during mid-day trading on Thursday . The stock traded as high as $11.30 and last traded at $11.22. Approximately 30,482,182 shares were traded during trading, a decline of 33% from the average daily volume of 45,730,191 shares. The stock had previously closed at $10.42.

Analysts Set New Price Targets

SOFI has been the subject of several research analyst reports. Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.25.

SoFi Technologies Stock Performance

The company has a market cap of $11.52 billion, a PE ratio of -36.19, a P/E/G ratio of 1.72 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $8.15 and a 200-day moving average of $7.39.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same quarter in the previous year, the business earned ($0.06) EPS. SoFi Technologies’s revenue was up 20.2% compared to the same quarter last year. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on 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 owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on 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 owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock worth $904,677 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently made changes to their positions in SOFI. ORG Partners LLC bought a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $37,000. Finally, Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $39,000. 38.43% of the stock is 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.