SoFi Technologies (NASDAQ:SOFI) Trading Up 2.9% - What's Next?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 2.9% during mid-day trading on Wednesday . The stock traded as high as $18.20 and last traded at $18.16. 19,206,702 shares were traded during mid-day trading, a decline of 63% from the average session volume of 51,832,687 shares. The stock had previously closed at $17.64.

Analysts Set New Price Targets

SOFI has been the subject of several analyst reports. JMP Securities started coverage on SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. UBS Group upped their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Barclays raised their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Citizens Jmp began coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 price target for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $14.73.

SoFi Technologies Stock Up 2.3%

The stock has a market cap of $20.49 billion, a PE ratio of 45.21, a P/E/G ratio of 2.99 and a beta of 1.91. The business has a 50 day moving average of $14.16 and a 200-day moving average of $14.01. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares in the company, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This trade represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock valued at $3,939,168 in the last ninety days. Insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $27,000. Hollencrest Capital Management purchased a new position in SoFi Technologies in the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies in the fourth quarter valued at $32,000. Hazlett Burt & Watson Inc. boosted its position in shares of SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of SoFi Technologies during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

About SoFi Technologies

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.