By otakuyassine3@gmail.com 
SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report)’s stock price shot up 2% on Wednesday . The company traded as high as $17.19 and last traded at $16.99. 14,821,209 shares were traded during trading, a decline of 69% from the average session volume of 47,497,313 shares. The stock had previously closed at $16.66.
Analyst Upgrades and Downgrades
SOFI has been the topic of several research reports. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Mizuho upped their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.50.
Read Our Latest Report on SoFi Technologies
SoFi Technologies Stock Performance
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 stock has a market cap of $17.69 billion, a PE ratio of 163.02, a P/E/G ratio of 2.65 and a beta of 1.77. The firm’s 50-day moving average is $13.16 and its 200 day moving average is $9.29.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its earnings results 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 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 business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.
Insider Activity
In related news, EVP Eric Schuppenhauer acquired 30,600 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price 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 represents a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through 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 transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,012,748 shares of company stock valued at $416,356,356 over the last quarter. Corporate insiders own 2.60% of the company’s stock.
Institutional Trading of SoFi Technologies
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Marshall Wace LLP lifted its position in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the period. Mizuho Markets Americas LLC raised its stake in shares of SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after acquiring an additional 2,440,745 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies during the 3rd quarter valued at $16,014,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.
SoFi Technologies Company Profile
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.
Further Reading
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