SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.6% - Here's What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price traded up 0.6% on Monday . The company traded as high as $13.38 and last traded at $12.96. 26,686,883 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 46,363,590 shares. The stock had previously closed at $12.88.

Analyst Ratings Changes

A number of research analysts recently commented on SOFI shares. Barclays increased their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. JMP Securities assumed coverage on SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target on the stock. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a report on Wednesday. Three 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.38.

SoFi Technologies Stock Up 1.5 %

The firm has a market cap of $13.93 billion, a P/E ratio of 34.32, a P/E/G ratio of 2.24 and a beta of 1.86. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $12.01 and a 200-day moving average price of $13.71.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on 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 can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock valued at $1,271,115 over the last ninety days. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Verdence Capital Advisors LLC purchased a new stake in SoFi Technologies during the first quarter valued at approximately $136,000. Mayflower Financial Advisors LLC lifted its holdings in shares of SoFi Technologies by 101.4% during the 1st quarter. Mayflower Financial Advisors LLC now owns 27,315 shares of the company's stock valued at $318,000 after purchasing an additional 13,750 shares during the last quarter. Portman Square Capital LLP acquired a new stake in SoFi Technologies in the first quarter worth about $843,000. Cullen Frost Bankers Inc. boosted its stake in SoFi Technologies by 1,636.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 4,862 shares of the company's stock worth $57,000 after purchasing an additional 4,582 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of SoFi Technologies by 34.0% during the first quarter. Victory Capital Management Inc. now owns 352,482 shares of the company's stock worth $4,099,000 after buying an additional 89,503 shares during the period. 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.