SoFi Technologies (NASDAQ:SOFI) Trading 2% Higher Following Insider Buying Activity

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 2% on Monday after an insider bought additional shares in the company. The stock traded as high as $16.84 and last traded at $16.57. Approximately 17,569,275 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 47,446,926 shares. The stock had previously closed at $16.25.

Specifically, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays upped their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

SoFi Technologies Price Performance

The company’s 50-day simple moving average is $13.16 and its 200 day simple moving average is $9.29. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of 166.60, a P/E/G ratio of 2.65 and a beta of 1.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC grew its stake in shares of SoFi Technologies by 6.5% in the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after acquiring an additional 1,336 shares during the last quarter. Virtu Financial LLC bought a new stake in SoFi Technologies in the third quarter valued at about $1,649,000. Coldstream Capital Management Inc. acquired a new position in SoFi Technologies in the third quarter worth about $93,000. Geode Capital Management LLC lifted its stake in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the period. Finally, M&T Bank Corp boosted its holdings in SoFi Technologies by 5.4% during the third quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after purchasing an additional 2,332 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.