SoFi Technologies (NASDAQ:SOFI) Shares Up 9.5% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 9.5% during mid-day trading on Monday . The company traded as high as $14.44 and last traded at $14.24. 41,200,754 shares were traded during mid-day trading, a decline of 13% from the average session volume of 47,200,785 shares. The stock had previously closed at $13.01.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SOFI shares. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Barclays increased their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC boosted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.32.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The stock has a market cap of $14.99 billion, a PE ratio of 142.40, a price-to-earnings-growth ratio of 2.13 and a beta of 1.60. The firm has a fifty day moving average price of $9.08 and a 200 day moving average price of $7.72.

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

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company's stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company's stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies in the third quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after purchasing an additional 1,543 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC lifted its stake in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock valued at $33,000 after purchasing an additional 1,981 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in SoFi Technologies during the third quarter valued at $47,000. 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.

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