SoFi Technologies (NASDAQ:SOFI) Trading 1.8% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 1.8% during mid-day trading on Thursday . The company traded as high as $16.67 and last traded at $16.28. 13,359,274 shares were traded during trading, a decline of 71% from the average session volume of 45,846,387 shares. The stock had previously closed at $15.99.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, The Goldman Sachs Group upped their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

The stock has a market cap of $17.12 billion, a P/E ratio of 42.65, a P/E/G ratio of 2.15 and a beta of 1.78. 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 business has a 50 day simple moving average of $15.84 and a 200-day simple moving average of $11.34.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 business posted $0.04 earnings per share. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.28 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock worth $416,950,073 in the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $28,000. FNY Investment Advisers LLC raised its holdings in shares of 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 buying an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $47,000. Hedge funds and other 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.