SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 2.1% on Wednesday . The stock traded as high as $15.85 and last traded at $15.81. Approximately 11,033,157 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 47,412,793 shares. The stock had previously closed at $15.49.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SOFI. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.80.

SoFi Technologies Trading Up 3.6 %

The company has a market cap of $17.41 billion, a price-to-earnings ratio of 158.12, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $10.59 and its two-hundred day moving average price is $8.28.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Research analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the company’s 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 represents a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,287 shares of company stock worth $863,250 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors raised its position in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after acquiring an additional 809 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares during the period. CIBC Asset Management Inc lifted its position in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after purchasing an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC grew its stake in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock worth $256,000 after acquiring an additional 1,054 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.