SoFi Technologies (NASDAQ:SOFI) Shares Up 1.2% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 1.2% during trading on Monday . The stock traded as high as $16.73 and last traded at $16.50. Approximately 40,249,333 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 36,048,924 shares. The stock had previously closed at $16.30.

Analysts Set New Price Targets

SOFI has been the topic of a number of research analyst reports. William Blair began coverage on SoFi Technologies in a research report on Wednesday, January 15th. They set an “outperform” rating on the stock. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $11.71.

SoFi Technologies Stock Up 1.2 %

The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The firm has a 50 day simple moving average of $15.32 and a two-hundred day simple moving average of $10.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This trade represents a 4.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,999,956 shares of company stock valued at $416,793,365. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of SOFI. Capital Performance Advisors LLP acquired a new position in SoFi Technologies during the third quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $28,000. FNY Investment Advisers LLC grew its stake in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the third quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in SoFi Technologies during the third quarter worth $47,000. Institutional investors own 38.43% of the company’s stock.

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.