SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.6% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 2.6% during mid-day trading on Tuesday . The stock traded as high as $11.85 and last traded at $11.93. 10,797,645 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 44,901,857 shares. The stock had previously closed at $11.63.

Analysts Set New Price Targets

A number of research analysts have commented on SOFI shares. Citigroup upped their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. UBS Group upped their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Up 3.4 %

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 business’s fifty day simple moving average is $14.10 and its two-hundred day simple moving average is $13.30. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.24 and a beta of 1.79.

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

Insider Buying and Selling

In other news, EVP Kelli Keough sold 11,181 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. This represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the business. 111 Capital acquired a new position in SoFi Technologies in the 4th quarter valued at about $438,000. Keystone Financial Services LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $275,000. Centaurus Financial Inc. purchased a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $172,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $821,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $1,164,000. 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.