SoFi Technologies (NASDAQ:SOFI) Trading Up 1.7% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price traded up 1.7% during trading on Thursday . The stock traded as high as $15.36 and last traded at $15.02. 11,076,542 shares traded hands during trading, a decline of 74% from the average session volume of 42,286,945 shares. The stock had previously closed at $14.77.

Analysts Set New Price Targets

A number of equities analysts have commented on SOFI shares. Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. UBS Group increased their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Citigroup boosted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Price Performance

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 50-day moving average of $15.73 and a 200-day moving average of $12.08. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 2.04 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share 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 previous year, the business earned $0.04 earnings per share. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock worth $416,950,073 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. boosted its position in shares of SoFi Technologies by 849.4% in the fourth quarter. Sunbelt Securities Inc. now owns 9,750 shares of the company's stock worth $152,000 after acquiring an additional 8,723 shares during the last quarter. Highview Capital Management LLC DE purchased a new position in SoFi Technologies during the fourth quarter worth approximately $1,152,000. Pinkerton Retirement Specialists LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $274,000. Elequin Capital LP increased its holdings in shares of SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after buying an additional 631 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in shares of SoFi Technologies by 16.5% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 20,558 shares of the company's stock worth $317,000 after buying an additional 2,912 shares during the period. 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.