SoFi Technologies (NASDAQ:SOFI) Reaches New 52-Week High - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $12.19 and last traded at $11.99, with a volume of 5776470 shares trading hands. The stock had previously closed at $11.42.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SOFI. The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Barclays boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their price objective on SoFi Technologies from $7.50 to $7.00 and set a "market perform" rating on the stock in a report on Tuesday, July 9th. Finally, Needham & Company LLC boosted their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $9.32.

SoFi Technologies Stock Up 3.4 %

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 firm has a 50 day simple moving average of $8.81 and a two-hundred day simple moving average of $7.62. The company has a market capitalization of $12.59 billion, a PE ratio of 117.91, a P/E/G ratio of 1.81 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The company had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period in the previous year, the company posted ($0.03) EPS. SoFi Technologies's revenue was up 29.8% compared to the same quarter last year. Research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company's stock, valued at $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated 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 approximately $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in SoFi Technologies during the third quarter worth about $27,000. ORG Partners LLC purchased a new stake in SoFi Technologies in the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock valued at $29,000 after buying an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in SoFi Technologies during the third quarter worth $39,000. Finally, GAMMA Investing LLC raised its holdings in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after acquiring an additional 1,981 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.