SoFi Technologies Target of Unusually High Options Trading (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was the target of unusually large options trading on Tuesday. Investors bought 333,654 call options on the company. This is an increase of 36% compared to the typical daily volume of 245,808 call options.

SoFi Technologies Price Performance

SOFI stock traded up $0.36 during trading on Tuesday, hitting $7.47. 74,749,875 shares of the company's stock traded hands, compared to its average volume of 53,394,418. SoFi Technologies has a 52 week low of $4.45 and a 52 week high of $11.70. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -24.10 and a beta of 1.75. The business has a fifty day simple moving average of $7.29 and a 200 day simple moving average of $7.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. During the same period last year, the company earned ($0.05) earnings per share. SoFi Technologies's revenue was up 26.2% on a year-over-year basis. As a group, research analysts expect that SoFi Technologies will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SOFI. Jefferies Financial Group dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 26th. Keefe, Bruyette & Woods raised SoFi Technologies from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Wedbush reissued an "underperform" rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $9.08.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares of the company's stock, valued at approximately $2,706,968.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Anthony Noto purchased 28,775 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in SoFi Technologies during the 4th quarter valued at $71,349,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company's stock worth $78,601,000 after acquiring an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company's stock worth $78,494,000 after acquiring an additional 6,870,610 shares in the last quarter. Vanguard Group Inc. increased its position in SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in shares of SoFi Technologies in the 4th quarter valued at about $38,595,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

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.