SoFi Technologies (NASDAQ:SOFI) Shares Up 4.5% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 4.5% during trading on Monday . The company traded as high as $13.48 and last traded at $13.45. 18,576,810 shares changed hands during trading, a decline of 58% from the average session volume of 44,430,239 shares. The stock had previously closed at $12.87.

Analysts Set New Price Targets

SOFI has been the subject of several analyst reports. Bank of America restated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Needham & Company LLC raised their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Up 4.8 %

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 firm’s 50 day simple moving average is $14.67 and its 200 day simple moving average is $13.05. The company has a market cap of $14.79 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results 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 last year, the company posted $0.04 earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in SOFI. Berkshire Capital Holdings Inc. grew its position in SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after acquiring an additional 620,800 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SoFi Technologies in the fourth quarter worth $3,703,000. Hanseatic Management Services Inc. bought a new position in SoFi Technologies during the fourth quarter worth $1,116,000. Kercheville Advisors LLC bought a new position in SoFi Technologies during the fourth quarter valued at about $1,594,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 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.