SoFi Technologies (NASDAQ:SOFI) Shares Up 2.1% - What's Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 2.1% on Friday . The company traded as high as $16.73 and last traded at $16.65. 18,165,684 shares traded hands during trading, a decline of 52% from the average session volume of 37,603,195 shares. The stock had previously closed at $16.30.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SOFI shares. Needham & Company LLC upped their price objective 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. William Blair started coverage on shares of SoFi Technologies in a research note on Wednesday. They set an "outperform" rating on the stock. Mizuho lifted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $11.71.

SoFi Technologies Stock Performance

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

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same quarter last year, the company earned ($0.03) EPS. The business's revenue was up 29.8% on a year-over-year basis. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now directly owns 586,494 shares of the company's stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,009,264 shares of company stock worth $416,889,795. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently bought and sold shares of the company. Yeomans Consulting Group Inc. purchased a new position in SoFi Technologies in the 4th quarter valued at $334,000. Key Client Fiduciary Advisors LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $195,000. Burr Financial Services LLC purchased a new position in shares of SoFi Technologies in the fourth quarter worth about $217,000. Evolution Wealth Advisors LLC acquired a new position in SoFi Technologies during the fourth quarter worth about $235,000. Finally, UMB Bank n.a. grew its stake in SoFi Technologies by 30.1% during the 4th quarter. UMB Bank n.a. now owns 40,644 shares of the company's stock valued at $626,000 after acquiring an additional 9,407 shares in the last quarter. 38.43% of the stock is currently 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.