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

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares traded up 2.1% during mid-day trading on Tuesday . The stock traded as high as $10.58 and last traded at $10.07. 20,703,434 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 45,618,107 shares. The stock had previously closed at $9.86.

Analyst Upgrades and Downgrades

SOFI has been the subject of several analyst reports. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Finally, UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Price Performance

The stock has a fifty day moving average of $13.02 and a 200 day moving average of $13.41. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 2.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the business posted $0.04 earnings per share. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,905 shares of company stock worth $1,308,075. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SOFI. Two Sigma Advisers LP acquired a new stake in SoFi Technologies in the 4th quarter worth about $299,980,000. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new stake in SoFi Technologies during the 4th quarter worth $103,678,000. Voloridge Investment Management LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at about $75,139,000. Finally, Amundi grew its position in shares of SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock valued at $39,360,000 after purchasing an additional 2,700,543 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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.