SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded up 1.1% on Thursday . The company traded as high as $16.48 and last traded at $16.11. 19,680,370 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 47,476,121 shares. The stock had previously closed at $15.94.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Citigroup cut shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and an average target price of $10.50.
Read Our Latest Stock Report on SOFI
SoFi Technologies Stock Down 0.3 %
The stock's 50 day moving average is $12.67 and its 200 day moving average is $9.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $17.25 billion, a PE ratio of 159.00, a PEG ratio of 2.66 and a beta of 1.77.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies's revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,960,748 shares of company stock valued at $415,523,316. Company insiders own 2.60% of the company's stock.
Hedge Funds Weigh In On SoFi Technologies
A number of institutional investors have recently made changes to their positions in the stock. World Investment Advisors LLC increased its holdings in shares of SoFi Technologies by 6.5% in the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company's stock worth $171,000 after buying an additional 1,336 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at $1,649,000. Coldstream Capital Management Inc. purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at $93,000. Geode Capital Management LLC boosted its stake in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after purchasing an additional 358,806 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of SoFi Technologies by 5.4% in the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company's stock valued at $359,000 after purchasing an additional 2,332 shares in the last quarter. 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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