SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.1% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 2.1% during trading on Friday . The company traded as high as $16.73 and last traded at $16.65. Approximately 18,165,684 shares traded hands during trading, a decline of 52% from the average daily volume of 37,603,195 shares. The stock had previously closed at $16.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SOFI shares. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. William Blair began coverage on shares of SoFi Technologies in a research report on Wednesday. They set an "outperform" rating on the stock. Bank of America reaffirmed an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and an average target price of $11.71.

SoFi Technologies Stock 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 P/E ratio of 165.02, a PEG ratio of 0.96 and a beta of 1.78. The business has a 50-day moving average price of $15.25 and a 200 day moving average price of $10.56.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company's quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the sale, the director now directly owns 482,083 shares in the company, valued at approximately $7,742,252.98. This trade represents a 78.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the transaction, the executive vice president now directly owns 152,203 shares of the company's stock, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,009,264 shares of company stock valued at $416,889,795. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after purchasing an additional 87,097 shares during the period. Zacks Investment Management bought a new stake in SoFi Technologies during the third quarter valued at approximately $3,766,000. Citizens Financial Group Inc. RI increased its holdings in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock valued at $1,892,000 after buying an additional 70,603 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock worth $30,971,000 after acquiring an additional 2,688,847 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $930,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

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.