SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 2.2% during mid-day trading on Wednesday . The stock traded as high as $12.20 and last traded at $12.18. 9,899,490 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 44,962,154 shares. The stock had previously closed at $11.91.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Bank of America reaffirmed an "underperform" rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Citigroup boosted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. UBS Group upped their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, 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 note on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and a consensus target price of $12.50.
Read Our Latest Stock Analysis on SOFI
SoFi Technologies Price Performance
The company has a market cap of $10.49 billion, a P/E ratio of 25.86, a P/E/G ratio of 2.24 and a beta of 1.86. 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 50-day simple moving average of $13.78 and a 200 day simple moving average of $13.30.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. 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 net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the company earned $0.04 EPS. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
Insider Buying and Selling
In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 over the last quarter. Corporate insiders own 2.60% of the company's stock.
Institutional Investors Weigh In On SoFi Technologies
A number of hedge funds have recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies during the fourth quarter worth about $27,000. Hollencrest Capital Management acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies during the 4th quarter worth approximately $32,000. FNY Investment Advisers LLC grew its position in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after acquiring an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC acquired a new stake in SoFi Technologies during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 38.43% of the company's stock.
SoFi Technologies Company Profile
(
Get Free Report)
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.
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