SoFi Technologies (NASDAQ:SOFI) Stock Price Up 5.3% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 5.3% during mid-day trading on Friday . The stock traded as high as $12.00 and last traded at $11.99. 10,667,141 shares changed hands during trading, a decline of 77% from the average session volume of 46,260,914 shares. The stock had previously closed at $11.39.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SOFI. UBS Group lifted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Citigroup lifted 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. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Mizuho lifted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Up 5.9 %

The firm has a market cap of $13.23 billion, a P/E ratio of 32.55, a PEG 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. The firm’s fifty day moving average is $14.94 and its two-hundred day moving average is $12.78.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.04 EPS. Analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 92,004 shares of company stock worth $1,459,060. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ purchased a new position in SoFi Technologies in the 4th quarter worth about $27,000. Brooklyn Investment Group purchased a new position in SoFi Technologies in the 3rd quarter worth about $28,000. Hollencrest Capital Management purchased a new position in SoFi Technologies in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $32,000. Finally, FNY Investment Advisers LLC increased its position 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 purchasing an additional 1,905 shares during the last quarter. 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.