Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 6.1% during mid-day trading on Monday . The stock traded as high as $14.07 and last traded at $13.98. Approximately 26,893,748 shares traded hands during trading, a decline of 43% from the average daily volume of 47,011,447 shares. The stock had previously closed at $13.18.
Wall Street Analysts Forecast Growth
SOFI has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price for the company. Finally, Barclays upped their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $14.38.
Read Our Latest Report on SOFI
SoFi Technologies Stock Performance
The firm has a market capitalization of $15.39 billion, a P/E ratio of 37.62, a P/E/G ratio of 2.24 and a beta of 1.84. The firm has a 50-day moving average price of $12.07 and a two-hundred day moving average price of $13.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The company's revenue was up 32.7% on a year-over-year basis. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock valued at $1,271,115 in the last three months. 2.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Elequin Capital LP boosted its stake in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after acquiring an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in SoFi Technologies by 1.1% during the 4th 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. Procyon Advisors LLC grew its position in shares of SoFi Technologies by 8.0% in the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock worth $208,000 after acquiring an additional 1,000 shares in the last quarter. Game Plan Financial Advisors LLC grew its position in shares of SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Bank of New Hampshire boosted its position in SoFi Technologies by 33.3% during the 1st 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 during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.
SoFi Technologies Company Profile
(
Get Free Report)
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.
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