SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.2% - Here's What Happened

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

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent analyst reports. Bank of America restated an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. 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 raised their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Finally, Citigroup increased their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $11.71.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market capitalization of $17.90 billion, a price-to-earnings ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The business's 50 day simple moving average is $15.32 and its 200-day simple moving average is $10.69.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted ($0.03) earnings per share. Research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold a total of 25,999,956 shares of company stock worth $416,793,365 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in SoFi Technologies by 7.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company's stock valued at $465,000 after purchasing an additional 4,661 shares during the last quarter. Amalgamated Bank boosted its holdings in SoFi Technologies by 10.7% during the second quarter. Amalgamated Bank now owns 58,529 shares of the company's stock worth $387,000 after buying an additional 5,661 shares in the last quarter. Hsbc Holdings PLC grew its position in SoFi Technologies by 337.6% in the second quarter. Hsbc Holdings PLC now owns 719,243 shares of the company's stock worth $4,715,000 after buying an additional 554,866 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 buying an additional 86,545 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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.