SoFi Technologies (NASDAQ:SOFI) Stock Price Up 5.3% - Here's What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 5.3% during trading on Friday . The company traded as high as $12.00 and last traded at $11.99. 10,667,141 shares were traded during trading, a decline of 77% from the average session volume of 46,260,914 shares. The stock had previously closed at $11.39.

Analysts Set New Price Targets

Several analysts have issued reports on SOFI shares. Keefe, Bruyette & Woods restated an "underperform" rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Mizuho lifted their price objective 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. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Needham & Company LLC increased their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, Bank of America reiterated an "underperform" rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and an average price target of $12.50.

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SoFi Technologies Stock Up 1.6 %

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 firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The business's 50 day moving average is $14.89 and its 200-day moving average is $12.89.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 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 period in the prior year, the company posted $0.04 earnings per share. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares of the company's stock, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,004 shares of company stock worth $1,459,060 over the last ninety days. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $27,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies in the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies during the 4th quarter worth $32,000. FNY Investment Advisers LLC lifted its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after buying an additional 1,905 shares during the period. Finally, IAG Wealth Partners LLC bought a new stake in shares of SoFi Technologies in the 4th quarter valued at about $38,000. 38.43% of the stock is currently owned by institutional investors.

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.