SoFi Technologies (NASDAQ:SOFI) Trading 1.2% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 1.2% during trading on Thursday . The stock traded as high as $14.74 and last traded at $14.65. 10,725,490 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 44,406,629 shares. The stock had previously closed at $14.47.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. UBS Group upped their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Morgan Stanley upped their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Up 2.8 %

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $15.54 and its 200-day moving average is $12.46. The firm has a market capitalization of $15.70 billion, a P/E ratio of 39.11, a P/E/G ratio of 2.24 and a beta of 1.78.

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, topping 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 company posted $0.04 earnings per share. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. This represents a 66.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction on Monday, December 16th. The stock was bought at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 26,008,465 shares of company stock valued at $416,952,167 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SOFI. Two Sigma Advisers LP bought a new position in shares of SoFi Technologies during the 4th quarter worth about $299,980,000. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter worth about $103,678,000. Voloridge Investment Management LLC bought a new position in shares of SoFi Technologies during the 4th quarter worth about $75,139,000. Finally, Amundi lifted its holdings in shares of SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after acquiring an additional 2,700,543 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.