SoFi Technologies (NASDAQ:SOFI) Stock Price Up 4.6% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 4.6% during trading on Friday . The company traded as high as $12.45 and last traded at $12.45. Approximately 19,348,135 shares traded hands during trading, a decline of 59% from the average daily volume of 46,932,973 shares. The stock had previously closed at $11.90.

Analysts Set New Price Targets

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

SoFi Technologies Price Performance

The stock has a market capitalization of $13.65 billion, a P/E ratio of 124.50, a price-to-earnings-growth ratio of 1.79 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The company's 50-day simple moving average is $8.98 and its 200-day simple moving average is $7.68.

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

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm's stock in a transaction on 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 owns 152,203 shares of the company's stock, valued at $1,576,823.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares of the company's stock, valued at approximately $1,576,823.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock valued at $223,000 after buying an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC grew its holdings in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company's stock valued at $86,000 after buying an additional 1,000 shares in the last quarter. Stratos Wealth Advisors LLC grew its holdings in SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company's stock valued at $256,000 after buying an additional 1,054 shares in the last quarter. NBC Securities Inc. grew its holdings in SoFi Technologies by 12.7% in the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company's stock valued at $75,000 after buying an additional 1,081 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in SoFi Technologies by 11.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company's stock valued at $95,000 after buying an additional 1,226 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.

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