SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.8% - Here's What Happened

Key Points

• SoFi shares rose 1.8% to $26.72 on Wednesday (intraday high $26.85) on volume of 61.0M shares, and analysts' consensus rating is Hold with an average price target of $25.06.
• The company beat Q results—EPS $0.11 vs. $0.09 expected and revenue $949.6M (up 37.7% YoY)—and set FY2025 guidance of about 0.37 EPS.
• Insiders have sold 118,805 shares (~$3.28M) in the last 90 days while owning 2.6% of the stock, institutional investors hold ~38.4%, and SoFi trades with a market cap of $32.2B and a P/E around 49.5.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price traded up 1.8% during trading on Wednesday . The stock traded as high as $26.85 and last traded at $26.72. 61,023,730 shares traded hands during trading, a decline of 5% from the average session volume of 64,367,059 shares. The stock had previously closed at $26.24.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of SoFi Technologies from $29.00 to $31.00 and gave the stock a "hold" rating in a report on Tuesday, November 4th. Jefferies Financial Group restated a "buy" rating and issued a $35.00 target price on shares of SoFi Technologies in a research report on Tuesday, October 28th. UBS Group lifted their price target on SoFi Technologies from $20.50 to $27.50 and gave the company a "neutral" rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods boosted their price objective on SoFi Technologies from $18.00 to $20.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 29th. Finally, Mizuho set a $38.00 price objective on SoFi Technologies in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $25.06.

SoFi Technologies Stock Up 1.8%

The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 49.48, a price-to-earnings-growth ratio of 2.64 and a beta of 1.93. The stock's 50 day moving average is $28.14 and its 200 day moving average is $22.10. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The firm had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm's revenue for the quarter was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 10,036 shares of the company's stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $28.33, for a total value of $284,319.88. Following the completion of the sale, the executive vice president directly owned 275,374 shares of the company's stock, valued at approximately $7,801,345.42. This represents a 3.52% 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, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 118,805 shares of company stock valued at $3,279,080 in the last ninety days. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of SoFi Technologies by 12.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company's stock valued at $88,864,000 after acquiring an additional 540,610 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after buying an additional 1,130,250 shares during the last quarter. Sullivan Wood Capital Management LLC acquired a new stake in SoFi Technologies in the 2nd quarter valued at approximately $2,799,000. Blair William & Co. IL increased its position in shares of SoFi Technologies by 443.9% during the second quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock valued at $6,113,000 after purchasing an additional 273,972 shares during the period. Finally, Vestmark Advisory Solutions Inc. bought a new position in SoFi Technologies in the second quarter worth $209,000. 38.43% of the stock is 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.

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