SoFi Technologies (NASDAQ:SOFI) Trading Up 5.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 5.1% on Tuesday . The company traded as high as $17.11 and last traded at $17.04. 26,318,778 shares changed hands during trading, a decline of 39% from the average session volume of 43,154,402 shares. The stock had previously closed at $16.21.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Needham & Company LLC raised their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Jefferies Financial Group upped their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Citigroup raised their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Down 3.8 %

The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 42.05, a P/E/G ratio of 2.43 and a beta of 1.77. 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 price of $15.73 and a two-hundred day moving average price of $12.13.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (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 prior year, the business earned $0.04 EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,999,280 shares of company stock valued at $416,810,442 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SOFI. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after buying an additional 8,898,879 shares during the period. Two Sigma Advisers LP acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $299,980,000. State Street Corp grew its holdings in shares of SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC increased its position in shares of SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Finally, Norges Bank acquired a new position in SoFi Technologies in the fourth quarter valued at about $103,678,000. 38.43% of the stock is currently 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.