SoFi Technologies (NASDAQ:SOFI) Shares Up 4.5% - Here's What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 4.5% during mid-day trading on Friday . The stock traded as high as $13.03 and last traded at $12.86. 19,411,765 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 46,408,581 shares. The stock had previously closed at $12.31.

Analyst Upgrades and Downgrades

Several research firms recently commented on SOFI. Needham & Company LLC lifted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. JMP Securities started coverage on shares of SoFi Technologies in a report on Friday. They issued a "market outperform" rating and a $17.00 target price for the company. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $13.10.

SoFi Technologies Price Performance

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 firm has a market capitalization of $14.12 billion, a PE ratio of 34.81, a PEG ratio of 2.24 and a beta of 1.86. The stock has a 50-day moving average price of $12.20 and a 200 day moving average price of $13.68.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the business posted $0.04 EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the transaction, the executive vice president now directly owns 226,210 shares of the company's stock, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,172 shares of company stock valued at $1,271,115. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $27,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies during the fourth quarter worth $31,000. Garde Capital Inc. purchased a new stake in SoFi Technologies in the first quarter valued at $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $32,000. Finally, FNY Investment Advisers LLC grew its holdings in shares of 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 purchasing an additional 1,905 shares during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.

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.