SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 1.1% during mid-day trading on Thursday . The stock traded as high as $12.93 and last traded at $12.87. Approximately 10,397,921 shares traded hands during trading, a decline of 77% from the average daily volume of 44,451,599 shares. The stock had previously closed at $12.73.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. The Goldman Sachs Group raised their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. UBS Group lifted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Citigroup lifted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $12.50.
Check Out Our Latest Research Report on SOFI
SoFi Technologies Stock Performance
The stock has a 50 day moving average of $14.67 and a 200 day moving average of $13.01. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.
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 (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business posted $0.04 EPS. As a group, analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
Insiders Place Their Bets
In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now directly owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $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 have sold 106,819 shares of company stock valued at $1,447,044 in the last three months. 2.60% of the stock is currently owned by insiders.
Institutional Investors Weigh In On SoFi Technologies
Several institutional investors have recently made changes to their positions in the stock. Berkshire Capital Holdings Inc. boosted its holdings in SoFi Technologies by 6,208,000.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after purchasing an additional 620,800 shares during the period. SBI Securities Co. Ltd. bought a new stake in SoFi Technologies during the fourth quarter valued at $3,703,000. Hanseatic Management Services Inc. purchased a new position in SoFi Technologies during the fourth quarter worth about $1,116,000. Kercheville Advisors LLC bought a new position in SoFi Technologies in the 4th quarter worth about $1,594,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SoFi Technologies by 1.4% in 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 acquiring an additional 87,097 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.
About SoFi Technologies
(
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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