SoFi Technologies (NASDAQ:SOFI) Trading Up 3.4% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 3.4% during mid-day trading on Thursday . The company traded as high as $16.09 and last traded at $16.03. Approximately 14,622,784 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 36,953,266 shares. The stock had previously closed at $15.51.

Analysts Set New Price Targets

Several equities research analysts recently commented on SOFI shares. Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. William Blair initiated coverage on SoFi Technologies in a research report on Wednesday. They issued an "outperform" rating for the company. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, Bank of America reissued an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.71.

SoFi Technologies Trading Up 1.2 %

The stock has a market capitalization of $17.90 billion, a price-to-earnings ratio of 165.02, a PEG ratio of 0.96 and a beta of 1.78. The company's 50 day moving average is $15.32 and its 200 day moving average is $10.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

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, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analysts' expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business's quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, Director Bashir Ruzwana sold 52,000 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now owns 25,937 shares of the company's stock, valued at approximately $415,510.74. This represents a 66.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock valued at $416,889,795 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after acquiring an additional 310,532 shares during the last quarter. Geode Capital Management LLC lifted its holdings in SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock worth $138,523,000 after buying an additional 358,806 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Marshall Wace LLP increased its stake in shares of SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock valued at $42,026,000 after buying an additional 3,593,464 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after acquiring an additional 87,097 shares during the last quarter. 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.