SoFi Technologies (NASDAQ:SOFI) Trading Up 0.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 0.1% during trading on Tuesday . The stock traded as high as $15.84 and last traded at $15.71. Approximately 9,382,976 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 47,447,789 shares. The stock had previously closed at $15.70.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SOFI shares. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased 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. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays increased their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC increased their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.80.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company’s 50-day moving average price is $10.74 and its two-hundred day moving average price is $8.34. The company has a market capitalization of $17.49 billion, a price-to-earnings ratio of 161.22, a PEG ratio of 2.61 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. 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 net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the prior year, the company posted ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,287 shares of company stock worth $863,250 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC grew its holdings in SoFi Technologies by 2.1% in 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. Dimensional Fund Advisors LP grew its holdings in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in SoFi Technologies by 6.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after purchasing an additional 690,638 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after buying an additional 3,593,464 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.