SoFi Technologies (NASDAQ:SOFI) Trading Up 1.2% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.2% on Monday . The company traded as high as $16.73 and last traded at $16.50. Approximately 40,249,333 shares traded hands during trading, an increase of 12% from the average daily volume of 36,048,924 shares. The stock had previously closed at $16.30.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. William Blair initiated coverage on SoFi Technologies in a research report on Wednesday, January 15th. They issued an “outperform” rating on the stock. Mizuho boosted their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Trading Up 8.5 %

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $15.45 and a 200-day moving average of $10.84. The stock has a market cap of $19.42 billion, a PE ratio of 179.02, a price-to-earnings-growth ratio of 1.12 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the transaction, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,999,956 shares of company stock worth $416,793,365. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently bought and sold shares of the business. Grange Capital LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $1,999,000. Exchange Traded Concepts LLC acquired a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $2,706,000. RFG Advisory LLC acquired a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $646,000. Brighton Jones LLC increased its stake in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after acquiring an additional 14,281 shares during the period. Finally, Yeomans Consulting Group Inc. acquired a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $334,000. Institutional investors own 38.43% of the company’s stock.

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.