SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.1% – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.1% on Thursday . The stock traded as high as $12.93 and last traded at $12.87. Approximately 10,397,921 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 44,451,599 shares. The stock had previously closed at $12.73.

Wall Street Analyst Weigh In

SOFI has been the subject of several recent analyst reports. Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. UBS Group boosted their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Performance

The business has a 50 day moving average of $14.73 and a 200 day moving average of $12.94. The company has a market capitalization of $13.80 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 27,013 shares of company stock worth $437,402 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies during the 4th quarter valued at $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies during the 3rd quarter valued at $28,000. Hollencrest Capital Management bought a new stake in SoFi Technologies during the 4th quarter valued at $31,000. Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies during the 4th quarter valued at $32,000. Finally, FNY Investment Advisers LLC boosted its position in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. Institutional investors 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.