SoFi Technologies (NASDAQ:SOFI) Trading 2.5% Higher - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 2.5% on Monday . The company traded as high as $19.29 and last traded at $19.03. Approximately 32,115,449 shares changed hands during trading, a decline of 39% from the average daily volume of 52,305,090 shares. The stock had previously closed at $18.57.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SOFI shares. Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Truist Financial initiated coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price target on the stock. UBS Group lifted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective on the stock. Finally, JMP Securities initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $14.73.

SoFi Technologies Price Performance

The stock has a market cap of $22.32 billion, a PE ratio of 49.25, a P/E/G ratio of 3.15 and a beta of 1.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The firm's 50 day moving average price is $14.52 and its two-hundred day moving average price is $14.05.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The company's revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. On average, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 11,520 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the transaction, the executive vice president owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,095 shares of company stock worth $3,939,168 over the last quarter. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of SOFI. Two Sigma Advisers LP purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $299,980,000. Vanguard Group Inc. grew its stake in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares in the last quarter. Norges Bank purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $103,678,000. Voloridge Investment Management LLC purchased a new position in SoFi Technologies in the 4th quarter worth approximately $75,139,000. Finally, Nuveen LLC purchased a new position in SoFi Technologies in the 1st quarter worth approximately $47,616,000. 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.