SoFi Technologies (NASDAQ:SOFI) Shares Up 2.3% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 2.3% on Wednesday . The stock traded as high as $12.08 and last traded at $11.52. 17,633,060 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 46,398,426 shares. The stock had previously closed at $11.26.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SOFI. The Goldman Sachs Group lifted their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Mizuho boosted their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Morgan Stanley boosted their target price 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, Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Stock 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 business has a 50 day moving average price of $14.94 and a two-hundred day moving average price of $12.78. The company has a market cap of $12.96 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 last year, the firm posted $0.04 earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares of the company's stock, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 92,004 shares of company stock valued at $1,459,060 in the last 90 days. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the 4th quarter valued at approximately $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. Hollencrest Capital Management purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $32,000. Finally, FNY Investment Advisers LLC grew its holdings in shares of 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 acquiring an additional 1,905 shares during the period. Institutional investors own 38.43% of the company's stock.

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.

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