SoFi Technologies Target of Unusually Large Options Trading (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was the recipient of unusually large options trading on Friday. Stock traders purchased 571,139 call options on the stock. This represents an increase of approximately 104% compared to the typical volume of 279,622 call options.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SOFI shares. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and a consensus price target of $9.32.

SoFi Technologies Stock Up 9.3 %

Shares of NASDAQ:SOFI traded up $1.11 during trading on Friday, reaching $13.01. 82,541,414 shares of the stock were exchanged, compared to its average volume of 47,224,184. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $13.01. The stock has a fifty day moving average of $8.98 and a two-hundred day moving average of $7.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 130.10, a price-to-earnings-growth ratio of 1.79 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. 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 8.38% and a return on equity of 3.79%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The company's revenue was up 29.8% compared to the same quarter last year. Research analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares of the company's stock, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company's stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in SoFi Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company's stock worth $604,632,000 after purchasing an additional 1,366,271 shares during the period. Dimensional Fund Advisors LP increased its stake in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 6.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company's stock worth $75,737,000 after buying an additional 690,638 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the period. Finally, Bank of New York Mellon Corp increased its position in SoFi Technologies by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company's stock valued at $20,604,000 after acquiring an additional 443,198 shares during the last quarter. Hedge funds and other 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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