SoFi Technologies (NASDAQ:SOFI) Shares Up 1.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 1.1% on Tuesday . The stock traded as high as $10.57 and last traded at $10.51. 11,622,266 shares changed hands during trading, a decline of 75% from the average session volume of 45,720,230 shares. The stock had previously closed at $10.40.

Analyst Ratings Changes

Several research firms have recently weighed in on SOFI. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Keefe, Bruyette & Woods dropped their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Barclays decreased their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued 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 $9.25.

SoFi Technologies Trading Up 1.1 %

The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average is $7.99 and its 200 day moving average is $7.35. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of -33.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. SoFi Technologies’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the 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 $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,328 shares of company stock valued at $808,246 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SOFI. ORG Partners LLC bought a new position in SoFi Technologies during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its holdings in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the third quarter valued at $39,000. GAMMA Investing LLC grew its holdings in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth about $37,000. 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.