SoFi Technologies (NASDAQ:SOFI) Hits New 1-Year High - Here's Why

Key Points

• SoFi Technologies shares reached a new 52-week high of $30.10, with significant trading volume of over 20 million shares.
• Analysts have a mixed outlook on SoFi, with Goldman Sachs issuing a "neutral" rating and a price target of $19, while Needham & Company LLC upgraded their target to $29 with a "buy" rating.
• Despite recent sales by executives, insider ownership remains at 2.6%, reflecting continued confidence in the company’s future performance.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $30.10 and last traded at $30.10, with a volume of 20953020 shares trading hands. The stock had previously closed at $29.51.

Analyst Ratings Changes

A number of equities analysts have recently commented on SOFI shares. Needham & Company LLC lifted their price objective on SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Barclays upped their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.00 target price (up from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Mizuho raised their price objective on shares of SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $19.88.

SoFi Technologies Stock Performance

The company's fifty day simple moving average is $23.99 and its 200 day simple moving average is $17.27. The stock has a market capitalization of $35.70 billion, a P/E ratio of 62.10, a P/E/G ratio of 3.51 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares of the company's stock, valued at $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,614 shares of company stock worth $3,452,672. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the stock. Soltis Investment Advisors LLC boosted its stake in SoFi Technologies by 1.8% during the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company's stock worth $518,000 after buying an additional 501 shares during the period. AE Wealth Management LLC grew its stake in SoFi Technologies by 2.8% in the 2nd quarter. AE Wealth Management LLC now owns 18,620 shares of the company's stock valued at $339,000 after acquiring an additional 514 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in shares of SoFi Technologies by 1.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 47,319 shares of the company's stock valued at $862,000 after acquiring an additional 537 shares during the last quarter. Burney Co. increased its position in SoFi Technologies by 0.4% during the 2nd quarter. Burney Co. now owns 147,136 shares of the company's stock worth $2,679,000 after purchasing an additional 557 shares in the last quarter. Finally, Drive Wealth Management LLC grew its position in SoFi Technologies by 1.4% in the second quarter. Drive Wealth Management LLC now owns 40,546 shares of the company's stock valued at $738,000 after acquiring an additional 563 shares in 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.