SoFi Technologies (NASDAQ:SOFI) Trading 3.4% Higher – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 3.4% during trading on Monday . The company traded as high as $14.60 and last traded at $14.57. 17,086,378 shares were traded during mid-day trading, a decline of 66% from the average session volume of 49,536,020 shares. The stock had previously closed at $14.09.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group upped their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 target price on the stock. Truist Financial initiated coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They set a “hold” rating and a $14.00 target price on the stock. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $14.73.

SoFi Technologies Trading Up 4.9%

The stock has a market cap of $16.33 billion, a P/E ratio of 39.91, a P/E/G ratio of 2.24 and a beta of 1.82. 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 stock has a 50-day moving average price of $12.79 and a 200-day moving average price of $13.96.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same quarter in the previous year, the company earned $0.02 EPS. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $13.95, for a total value of $1,215,603.00. Following the sale, the director now owns 376,398 shares in the company, valued at $5,250,752.10. This represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,787 shares of company stock valued at $3,753,076 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Elequin Capital LP increased its stake in SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares in the last quarter. Game Plan Financial Advisors LLC lifted its holdings in shares of SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after purchasing an additional 1,000 shares in the last quarter. Bank of New Hampshire lifted its holdings in shares of SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC lifted its holdings in shares of SoFi Technologies by 16.7% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company’s stock valued at $81,000 after purchasing an additional 1,000 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

About SoFi Technologies

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.