SoFi Technologies (NASDAQ:SOFI) Trading 4.1% Higher – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 4.1% during trading on Thursday . The company traded as high as $16.16 and last traded at $16.12. Approximately 48,218,577 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 47,582,633 shares. The stock had previously closed at $15.49.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research reports. Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Barclays increased their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target of $9.80.

SoFi Technologies Trading Up 4.1 %

The company has a market capitalization of $17.49 billion, a PE ratio of 161.22, a P/E/G ratio of 2.61 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm’s 50 day moving average is $10.74 and its 200 day moving average is $8.34.

SoFi Technologies (NASDAQ:SOFI) last issued 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. The firm had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,287 shares of company stock worth $863,250 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. World Investment Advisors LLC raised its position in shares of SoFi Technologies by 6.5% in the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after acquiring an additional 1,336 shares in the last quarter. Virtu Financial LLC purchased a new stake in SoFi Technologies in the third quarter worth $1,649,000. Coldstream Capital Management Inc. bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $93,000. Geode Capital Management LLC grew its position in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after buying an additional 358,806 shares during the period. Finally, M&T Bank Corp lifted its position in SoFi Technologies by 5.4% during the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after acquiring an additional 2,332 shares during the period. 38.43% of the stock is 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.